Skip to content
Subscriber Only

Daimler to Sell 50% Stake in Engines Venture to Rolls-Royce

Daimler AG, the world’s third-biggest maker of luxury cars, will sell a 50 percent stake valued at 1.9 billion pounds ($3.2 billion) in an engine joint venture to partner Rolls-Royce Holdings Plc. to invest in its automotive and truck businesses.

Daimler is selling the Rolls-Royce Power Systems holding under a put option agreed with the British manufacturer three years ago when the venture was established, the Stuttgart, Germany-based automaker said in a statement today.