Engine sale

25 April 2008

Germany: DaimlerChrylser has sold its off-highway engines business to private equity company EQT. The sale values MTU Friedrichshafen and the off-highway engine divisions of Detroit Diesel at € 1.6 billion (US$ 1.94 billion). DaimlerChrysler has received € 1 billion (US$ 1,21 billion) in cash for the companies, and in addition, EQT will take over various debts and pension costs totalling € 600 million (US$ 725 million).

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