Private equity firms considering Chrysler(2)

The carmaker has reportedly begun shopping itself to private equity firms, including Apollo Management, The Blackstone Group, The Carlyle Group and Cerberus Capital Management.

A private equity deal may be in the works for the Chrysler, the US unit of German carmaker DaimlerChrysler AG, the Financial Times reported on Friday. 

Apollo Management, The Blackstone Group, The Carlyle Group and Cerberus Capital Management were asked about possibly buying the division, the Financial Times said, citing anonymous sources who are “familiar with the matter.” Some European firms were also said to have been contacted about a buyout.

The discussions with the firms took place before Chrysler said that it was considering its options regarding the division last week. Chrysler told employees it would be cutting 13,000 employees and closing a factory in an attempt to regain profitability.