Toronto-based TD Bank will purchase Chrysler Financial for $6.3 billion. Despite being named Chrysler Financial, the company is no longer owned by the automaker, but held by former owner and destroyer of worlds — Cerberus. If you do the math, Cerberus paid $7.4 billion for 80% of Chrysler, then easily shed it in the bankruptcy/bailout, kept the finance arm, and just sold that for almost the price they paid for the whole thing in the first place. [Reuters]

Advertisement

Share This Story

Get our newsletter