Three groups submit bids for Chrysler: paper

Dodge introduces its new 2007 Dodge Ram Heavy Duty pickup truck at the Washington Auto Show, January 23, 2007. Private equity groups Cerberus Capital Management and The Blackstone Group have submitted formal offers to buy DaimlerChrysler's loss-making Chrysler Group, the Detroit News said on Wednesday.

BERLIN (Reuters) - Private equity groups Cerberus Capital Management CBS.UL and The Blackstone Group BG.UL have submitted formal offers to buy DaimlerChrysler's DCXGn.DE loss-making Chrysler Group, the Detroit News said on Wednesday.

Canadian car parts group Magna International Inc MGa.TO has also submitted an offer that keeps it in the running to acquire the U.S. division of DaimlerChrysler, the paper said, citing people close to the situation.

DaimlerChrysler is expected to choose one bidder as an exclusive negotiating partner by the end of April, it said, adding DaimlerChrysler was hoping for a price of about $8 billion for Chrysler.

DaimlerChrysler has persistently refused to comment on the status of its strategic review of Chrysler since the world's fifth-biggest carmaker said in February it was examining all options for Chrysler.

Consumers' abrupt shift to fuel-efficient cars at a time of high fuel prices hurt Chrysler, the most dependent of the big Detroit carmakers on light trucks and sport utility vehicles for profits.

It posted a 2006 operating loss of 1.12 billion euros ($1.50 billion) and launched a restructuring plan that will cut 13,000 jobs and close a plant as it tries to return to profit by 2008.