Major issues resolved in GM-Chrysler talks-sources
NEW YORK/DETROIT, Oct 29 (Reuters) - General Motors Corp GM.N and Cerberus Capital Management [CBS.UL] have resolved the major issues in a proposed GM-Chrysler merger but the final form of any deal will depend on the financing and government support available, sources familiar with the talks said on Wednesday.
Both sides have agreed that GM Chief Executive Rick Wagoner would lead the combined automaker, the sources said. A merged GM/Chrysler would be the largest automaker by global sales.
As GM seeks some $10 billion in U.S. government aid to support the deal, Chrysler owner Cerberus is in its own set of intense discussions with banks to refinance $9 billion of Chrysler debt, the sources said.
The lending consortium -- which includes JPMorgan Chase (JPM.N), Goldman Sachs Group (GS.N), Citigroup Inc (C.N) and Morgan Stanley (MS.N) -- has not made a decision yet and talks are complicated because lenders have sold part of the debt to other investor groups, the sources said. (Reporting by Jui Chakravorty Das and Kevin Krolicki; Editing by Brian Moss) (jui.chakravorty@thomsonreuters.com; +1 646-842-0854)
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