If a Private Equity firm buys a pulic company...?

[CrazyAce]

I need some help here. If a private equity firm like Cerberus buys a public company (Chrysler) then is it still technically a private equity firm?

I don't know the technicalities, but since Chrysler, I suppose, was something of a subsidiary of Daimler then it wasn't really "public" to being with?

[edtost]

if cerberus buys 100% of a public company, its no longer a public company.