Cerberus to revive Chrysler Financial: report

By IBTimes Staff Reporter | September 27 2010 5:40 PM

Private equity firm Cerberus Capital Management LP is planning to revive its Chrysler Financial lending unit, the Wall Street Journal reported on Friday, citing sources with knowledge of the situation.

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It will lend to mid-size firms unable to tap banks and public debt markets, the Wall Street Journal reported.

Chrysler, previously a Cerberus investment, emerged from a U.S. government-funded bankruptcy in June 2009. Cerberus retained ownership of Chrysler Financial.

Cerberus was not immediately available for comment.

(Editing by Carol Bishopric)

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