In 1998, Daimler-Benz and Chrysler agreed to combine their businesses — promoted as the "merger of equals" — and the new entity was named DaimlerChrysler AG. However, this was actually when Daimler-Benz bought out Chrysler.
On May 14, 2007, the separation of Daimler AG and Chrysler LLC was announced. Selling Chrysler has been seen as a positive move for Daimler by its shareholders, who hope that the separation will allow Daimler's car brand Mercedes-Benz to be free to do what it does best without having the distractions of its heavily unprofitable U.S. partner Chrysler. However, Daimler retains a 20 per cent minority stake in Chrysler.
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