Is The MTU Sale Finally Going To Happen?
The long, some times soap opera-like sale of the German diesel manufacturer MTU Friedrichshafen may be nearing its endgame with the announcement the DaimlerChrysler AG has agreed to buy out minority shareholders. The minority shareholders had been blocking plans for DaimlerChrysler to sell MTU.
DaimlerChrysler said it has agreed to buy the 12 percent of MTU it did not own from the Maybach and Zeppelin families for an under disclosed amount. The final sale of the company, if it ever happens, is expected to bring in about $1.2 billion to DaimlerChrysler. German engine and truck builder MAN and private equity firms Kohlberg Kravis Roberts in the