SEND US A TIP
0

Daimler Gains $3.44 Billion From The Assessment Of Its EADS Holdings

Giancarlo Perlas March 31, 2013

Daimler

Daimler is not only significant in the auto making industry. It has also been an integral part of the European Aeronautic, Defence & Space Co. for decades. However, the famous parent company of Mercedes-Benz has now decided to sell its shares of the aeronautical company.

According to the news from Bloomberg which was published last March 27 in its official website, Daimler will book around 2.7 billion Euros or 3.44 billion U.S. Dollars from the reevaluation of its remaining holdings in the airplane maker. Their remaining shares is around 7.5% said Bloomberg.

After the vote conducted by EAD owners last Wednesday, March 27, it was decided that the shareholder pact between the luxury car manufacturer and the parent of Airbus SAS is now ready to be extinguished.

In a statement of Daimler through its CFO Bodo Uebber, the auto maker said that their pronouncement to break up their ties with EAD is due to their decision to focus more in their core business, which is producing luxury cars.

Tagged with: ,

About Author

Giancarlo Perlas

Giancarlo is an economist by profession with a career spanning nearly two decades. His professional journey has seen him assume vital roles in various government and private organizations. Alongside his civic and corporate pursuits is his love for cars, particularly those made by Mercedes-Benz. In 2012, he found himself with like-minded individuals within BenzInsider. From then on, he used the platform as a way to share his passion with the automotive community. Follow his Facebook page at https://www.facebook.com/benzinsider, X (formerly Twitter) @giancarloperlas, and IG @benzinsider. View all posts by Giancarlo Perlas →

Leave a Comment

Login to your account

Can't remember your Password ?

Register for this site!