Chrysler LLC, scrambling to put together a government-mandated viability plan by Feb. 17, is apparently making some headway in its effort to divest its Viper sportscar brand.
Company vice chairman Jim Press
told reporters Tuesday that the Cerberus Capital Management LP-owned automaker is conducting due diligence on three offers for the brand. Press said it is unlikely that a Viper sale will be concluded by Feb. 17 and did not list the potential buyers, though hotrod maker Saleen Inc. and Roush Enterprises Inc., the holding company for racing legend Jack Roush, have been mentioned in rumors.
When Chrysler put Viper on the block last summer, conventional wisdom (and oil prices at the time) suggested the company would not earn much from selling the 15-year-old brand. But the presence of three bidders offers some hope that Chrysler might make enough off of the auction for it to provide some real benefit to the company's bottom line. And with Chrysler burning through millions as it restructures its operations amid a massive sales slump, every little bit helps. -
Lou Whiteman
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