Banks Agree To Hold Chrysler Loans

Cerberus' acquisition of automotive group Chrysler from Germany's DaimlerChrysler looks to be back on track after banks agreed to keep $10bn of loans they could not sell to investors.

Reports claim banks led by JPMorgan Chase failed to find demand for the loans. Cerberus and DaimlerChrysler have reportedly agreed to assume a further $2bn of loans.

The news come as the buyout of Alliance Boots and the planned disposal of Cadbury's US drinks business run into troubles over concerns in the debt markets