Chrysler LLC is an American automobile manufacturer headquartered in the Detroit suburb of Auburn Hills, Michigan, first organized as Chrysler Corporation in 1925. From 1998 to 2007, Chrysler and its subsidiaries were part of the German based DaimlerChrysler AG (now Daimler AG).[2] Prior to 1998, Chrysler Corporation traded under the "C" symbol on the New York Stock Exchange. Under DaimlerChrysler, the company was named "DaimlerChrysler Motors Company LLC", with its U.S. operations generally referred to as the "Chrysler Group". On May 14, 2007, DaimlerChrysler announced the sale of 80.1% of Chrysler Group to American private equity firm Cerberus Capital Management, L.P., although Daimler continued to hold a 19.9% stake. This was when the company took on its current name.[3] The deal was finalized on August 3, 2007.[4] On April 27, 2009, Daimler AG signed a binding agreement to give up its 19.9% remaining stake in Chrysler LLC to Cerberus Capital Management and pay as much as $600 million into the automaker's pension fund.[5] On April 30, 2009, Chrysler filed for Chapter 11 bankruptcy protection and announced a partnership with Italian automaker Fiat.