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Daimler sells equity interest in Tata Motors

Excellent relations between Daimler and Tata remain unaffected.
Filed under:  Brand Related
 
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March, 2010.
Daimler sold all of its 5.34% of the ordinary shares of Indian automotive company Tata Motors to various groups of investors through the capital market. Tata Motors’ share price has risen significantly, especially last year, so Daimler will receive a substantial cash inflow of approximately €300 million from the sale of its shares. The transaction will have a positive effect on Daimler’s EBIT of approximately €265 million and will be accounted for in the first quarter of 2010.


tata mercedes emblem 79

Two partners in India: emblem of Tata Mercedes-Benz (around 1979), a joint venture for commercial vehicle manufacture.

Daimler is today in an excellent position to capitalize on the growth potential of the Indian passenger and commercial vehicle markets and continues to intensify its own activities there. An equity participation of Daimler in Tata is therefore no longer necessary. This has been done in full consultation with Tata. Relations between the two companies are excellent and will not be adversely affected by this sale.

Significant growth potential of Indian market
Despite the global financial crisis, the Indian economy is clearly booming, accompanied by dynamic social developments and a corresponding need to catch up for the country’s automotive industry. Daimler is participating in these growth opportunities by strengthening its own activities in both, the car and commercial vehicle sectors.

(source: Daimler)


tata emblem

Tata emblem.

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Tata   Official site.
 
 
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