When did Daimler buy Chrysler ? On 7 May 1998, Daimler-Benz Aktiengesellschaft in Germany and Chrysler Corporation in the United States of America signed a merger contract. After Chrysler posted a loss of $1.5 billion in 2006, Daimler cut it loose, selling the Chrysler Group to the American private equity firm Cerberus Capital Management in 2007. The new firm was named Chrysler LLC. On May 14, 2007, Cerberus announced that it would buy 80% of Chrysler Group, including the highly profitable Chrysler Financial division. In 2009, Cerberus gave up Chrysler - except for Chrysler Financial. It then went back to Chrysler (and the U.S. government ) - as far as I can see. FCA gains full ownership By 2014, Fiat had acquired 100 percent of Chrysler, which became a full subsidiary of the Italian automaker.