Independent journal on economy and transport policy
12:55 GMT+1
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Rolls-Royce and Daimler will introduce an offer of the value of 3,2 billion euros in order to buy the Tognum German
The group of Friedrichshafen produces to engines and systems of propulsion for the marine, energetic field, of the defense and for other industrial applications with brand MTU and systems of injection with the brand the Orange
March 9, 2011
The groups Rolls-Royce and Daimler have announced today the intention to introduce an offer for the acquisition of the entire capital stock of the German Tognum AG who will be advanced by joint venture 50:50 purposely constituted by the two groups.
Tognum, that it has center to Friedrichshafen and it is quoted to the Stock exchange of Frankfurt, produces to engines and systems of propulsion for the marine section, that energetic one, for the field of the defense and other industrial applications with brand MTU and systems of injection with the brand the Orange. The company gives job to beyond 8.700 people and in 2009 it has totaled revenues for 2,5 billion euros.
The offer of Rolls-Royce and Daimler will be based on a price of 24 euros for cash each action of Tognum (that it represents a prize of 30% about regarding the price of closing of the title of last Friday), for a total value of the offer of about 3,2 billion euros.
The constructor of Dailmer motor vehicles currently stops 28.4% of the capital stock of the Tognum and also such quota will be object of the offer. Rolls-Royce will participate to joint venture joint with Daimler through own relative Bergen brand to the engines to medium speed.
Also specifying that the board of directors will estimate the offer and will communicate the outcome of such analysis to the shareholders, the Tognum, than past monday it had confirmed of having in course negotiations in starting phase with Rolls-Royce and Daimler, has received with favor the offer. With Rolls-Royce and Daimler, the managing director of the German company has declared today, Volker Heuer - he would be come to create one of world-wide the technological leaders in the systems of propulsion and distribution of the energy. For us Rolls-Royce and Daimler would represent two strong strategic investor financially that they have expressed clearly a engagement regarding the prosecuzione of the strategy of internal and external increase of the Tognum. This would place to us in an excellent position in order to carry out an active role in being profitable concrete an ulterior consolidation of the market".
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The groups Rolls-Royce and Daimler have announced today the intention to introduce an offer for the acquisition of the entire capital stock of the German Tognum AG who will be advanced by joint venture 50:50 purposely constituted by the two groups.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
