Tuesday, August 7, 2007

DaimlerChrysler Shares to Trade As DAI

Associated Press 08.07.07, 8:46 AM ETFRANKFURT, Germany -

With the sale of Chrysler complete, DaimlerChrysler's share symbol on Frankfurt and New York exchanges will be altered this week, the company said.

Starting Thursday, the automaker's stock ticker will be changed from DCX to DAI on the DAX-30 index of companies in Frankfurt and on the New York Stock Exchange.

On Friday, DaimlerChrysler AG (nyse: DCX - news - people ) transferred an 80.1 percent stake in Chrysler to New York-based Cerberus, one of the world's largest private equity companies, in a $7.4 billion (5.36 billion euros) deal. The German automaker, which is to be renamed Daimler AG, retained a 19.9 percent interest in Chrysler.

The name change is expected to take effect after a shareholder meeting Oct. 4 to vote on the move.

DaimlerChrysler shares rose more than half a percent to 64.53 euros ($89.17) in Frankfurt.

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