Daimler buys out EQT's Tognum interests

  • 19-Jun-2008 09:07 EDT

Daimler AG has agreed to acquire EQT’s 22.3% equity interest in off-highway engine producer Tognum AG. At €20 per share, the purchase price would be approximately €585 million, making Daimler the largest shareholder in Tognum. Swedish investment group EQT purchased MTU Friedrichshafen and parts of Detroit Diesel from then-DaimlerChrysler in late 2005 for €1.6 billion. Daimler and Tognum are discussing the possible future supply of Daimler’s medium-duty engine generation in the power segment below MTU’s future new engine Series 1600.

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