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Hyundai, Chrysler in talks as GM pulls out-sources

Fri Nov 7, 2008 5:22pm EST

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NEW YORK/DETROIT, Nov 7 (Reuters) - South Korea's Hyundai Motor Co (005380.KS) has had talks with Chrysler LLC owner Ceberus Capital Management about a potential acquisition of the struggling U.S. automaker's Jeep brand and possibly other assets, people with knowledge of the talks said on Friday.

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The emergence of South Korea's largest automaker as a potential bidder for at least part of Chrysler comes on the same day General Motors Corp GM.N said it was abandoning its own pursuit of an acquisition of its cross-town rival.

Cerberus also plans to restart talks other potential partners, including Renault-Nissan, the sources added. (Reporting by Jui Chakravorty and Kevin Krolicki; Editing by Andre Grenon; +1-646-223-6033)
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