Daimler and Rolls-Royce secure support for Tognum Public Tender Offer – with 94 per cent of shares committed

Stuttgart/Germany/London/Great Britain

- Companies will create a leading industrial engine systems and solutions provider
- 35,82 per cent of shares tendered during extended offer period
- Excellent acceptance rate reflects overall attractiveness of the offer

Daimler AG and Rolls-Royce Holding plc are very pleased to announce that they have secured 94,17 per cent of shares in Tognum after their successful tender offer. During the extended offer period, further shareholders representing 35,82 per cent of Tognum’s share capital have tendered their shares into the offer made by the companies’ joint venture Engine Holding GmbH. The final total of 94,17 per cent also includes the 1,52 per cent of the share capital (two million shares) that were acquired by the joint venture on the stock market during the earlier acceptance period. The high acceptance rate puts the companies in an excellent position to pursue its joint business objectives.

Bodo Uebber, Chief Financial Officer of Daimler, said: “We are very pleased with the final acceptance rate, which clearly underlines how successful we have been with our approach towards all stakeholder of Tognum, including its shareholders and employees. We will now focus on jointly further developing the business. We see great potential in this global market worth more than €30 billion a year and are dedicated to the joint venture’s future success.”

Andrew Shilston, Finance Director of Rolls-Royce added: “By combining the strengths, technology and market access of Daimler, Rolls-Royce and Tognum, the joint venture will establish a leading industrial engine systems and solutions company, offering a broad portfolio of products, services and integrated solutions on a worldwide basis.”
The transaction is fully supported by the Supervisory and Management Boards of Tognum AG whose members have tendered their shares. Daimler and Rolls-Royce intend to maintain the current manufacturing sites and are confident that the growth strategy will secure jobs and lead to further opportunities.

The regulatory filing and approval process to satisfy the conditions laid out in the Offer Document is ongoing. The cash settlement of the transaction is expected for the third quarter after having received all relevant approvals.