Magna would not incur debt to buy Chrysler-report

(In U.S. dollars)

TORONTO, May 9 (Reuters) - Canadian auto parts maker Magna International Inc. (MGa.TO) would not go into debt to finance the purchase of a stake in DaimlerChrysler's DCXGn.DE struggling Chrysler division, the Globe and Mail newspaper reported on Wednesday.

On its Web site, the Globe said Magna Chairman Frank Stronach expects a decision regarding the potential purchase to be made during the next few weeks.

Magna has reached a partnership deal with Canadian buyout firm Onex Corp. (OCX.TO) in its bid to buy a stake of Chrysler, the Globe reported.

According to the article, Stronach said the company has $2 billion of cash and does not plan to "gamble Magna away."

Germany's DaimlerChrysler said in February that it was considering all options for its struggling North American unit.

((Reporting by Frank Pingue, editing by Rob Wilson; Reuters Messaging: frank.pingue.reuters.com@reuters.net, +1 416 941-8094)) Keywords: CHRYSLER MAGNA/

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