MTU Talks Heating Up?
The Swedish buyout firm EQT is apparently one of the finalists to buy out DaimlerChrysler's diesel engine unit MTU Friedrichshafen, according to a Reuters news report .
The list of possible buyers has really not changed in recent weeks with buyout group Kohlberg Kravis Roberts (KKR) and its partner Dubai International Capital (DCI) along with MAN AG joining EQT as the most likely to succeed.
However, Reuters said EQT is currently “holding exclusive talks with DaimlerChrysler," while at the same time not ruling out DaimlerChrysler holding exclusive talks in future with another bidder.
Apparently, the exclusive talks with EQT began last weekend and are due to last around a week but may be extended, a source told Reuters. DaimlerChrysler and EQT declined comment.
Buyout group Kohlberg Kravis Roberts and its partner Dubai International Capital are also considered front runners to buy MTU for around 1.7 billion euros ($2 billion). Dubai International Capital earlier this year took a stake of around 2 percent in DaimlerChrysler. DIC is the international investment arm of government-owned Dubai Holding.Edit Module