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Divestment - Germany - EQT in exclusive talks to buy DaimlerChrysler's MTU
Germany -AutoNews/Reuters(LONDON,UK) -Nov 30, 2005: -- Swedish buyout firm EQT is in exclusive talks with DaimlerChrysler about buying its heavy diesel engine unit MTU Friedrichshafen... Buyout group Kohlberg Kravis Roberts and its partner Dubai International Capital had previously been seen as front runners to buy MTU for around 1.7 billion euros ($2 billion). Gulf-based Dubai International Capital early this year took a stake of around 2 percent in DaimlerChrysler... German truckmaker MAN AG was also a finalist in the MTU sales process... The divestment is seen as a key part of Daimler's plans to finance planned job reductions via voluntary redundancies -- costing 950 million euros -- at its Mercedes Car Group division in Germany, where it wants to cut up to 8,500 jobs...
posted by Unknown @ 1:02 PM
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