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A security guard walks past cars in a Geely Automobile Holdings Ltd. factory in a Shanghai suburb September 28, 2006.REUTERS/Aly Song

China in auto power play

It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu.  Commentary 

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Cerberus says 'confident' on Chrysler financing

ROCHESTER, Michigan
Wed Jul 11, 2007 2:31pm EDT
In this file photo John Snow, chairman of Cerberus Capital Management, L.C., addresses the Detroit Economic Club about 'The New Face of Private Investment' in Rochester, Michigan July 11, 2007. REUTERS/Rebecca Cook

ROCHESTER, Michigan (Reuters) - Cerberus Capital Management Chairman John Snow said on Wednesday the private equity firm was 'confident' in securing Chrysler financing and sees the deal closing in the current quarter.

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Snow also said the firm has no plans for an "exit strategy" regarding the Chrysler investment.

The comments came as DaimlerChrysler DCXGn.DE shares fell more than 2 percent on Wednesday on market talk of possible financing difficulties for the sale of Chrysler to Cerberus.

(Reporting by Kevin Krolicki)
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