Deliver Your News to the World

Daimler and Rolls-Royce obtain final approval for acquisition of Tognum


- All relevant regulatory authorities have given their approval
- Additional offer period for Tognum shareholders to continue until November 10, 2011

Stuttgart/London – Daimler AG and Rolls-Royce Holdings plc have obtained the approval of all the relevant regulatory authorities for the acquisition of Tognum AG. This step paves the way for Daimler and Rolls-Royce to conclude the takeover of the Friedrichshafen-based engine and drive system specialist Tognum through their joint venture, Engine Holding GmbH. The settlement will be completed within the next eight bank working days. This means that the Tognum shareholders who tendered their shares before the extended offer period ended on June 20, 2011 will receive settlement within the next two weeks.

As of August 22, 2011, Engine Holding GmbH had secured approximately 96.78% of the Tognum shares. Tognum shareholders who have not yet accepted the takeover offer can tender their shares for purchase by Engine Holding GmbH at the offer price of €26 until midnight on November 10, 2011.

Through the acquisition of Tognum, Daimler and Rolls-Royce plan to create a leading supplier of complete industrial engine systems. The joint venture company will offer a broad range of products, services, and solutions worldwide.

1. Rolls-Royce is a world-leading provider of power systems and services for use on land, at sea and in the air, and has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy.
2. As a result of this strategy, Rolls-Royce has a broad customer base comprising more than 500 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 2,500 marine customers, including 70 navies, and energy customers in nearly 120 countries, with an installed base of 54,000 gas turbines.
3. Annual underlying revenues were over £10.8 billion in 2010, of which more than half came from the provision of services. The firm and announced order book stood at £61.4 billion at 30 June 2011, providing visibility of future levels of activity.
4. Rolls-Royce employs over 39,000 skilled people in offices, manufacturing and service facilities in over 50 countries. Over 11,000 of these employees are engineers.
5. In 2010, Rolls-Royce invested £923 million on research and development, two thirds of which had the objective of further improving the environmental performance of its products, in particular reducing emissions.
6. Rolls-Royce supports a global network of 28 University Technology Centres, which connect the company’s engineers with the forefront of scientific research.
7. The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.


This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.