New York outfit Schulte Roth & Zabel has bagged a lead role alongside Milbank Tweed Hadley McCloy, Shearman & Sterling and Skadden Arps Slate Meagher & Flom on Cerberus’ acquisition of DaimlerChrysler’s Chrysler division in a €5.5bn (£3.8bn) deal.

Schulte Roth and Milbank are representing the US buy-out house on M&A and financing of the bid respectively, while Shearman and Skadden, fielding teams in their New York and Munich offices, are representing DaimlerChrysler on the sale.