Daimler successfully places 7.5 percent of EADS shares
STUTTGART, Germany, Dec. 6, 2012 /PRNewswire/ — Daimler AG today sold 61.1 million shares in EADS to KfW, private Dedalus Investors and international investors by way of the Accelerated Book Building (ABB) announced yesterday. The price per share was set at EUR27.23, which corresponds to the EADS closing price in Paris on Dec 5.
The demand from institutional investors was very strong. The book was multiple times oversubscribed.
As previously announced, KfW acquired 2.76% of the EADS shares in the ABB. Private Dedalus Investors acquired 1.9% of the EADS shares as part of the transaction.
“From this sale, we will realize approximately 1.66 billion euros, which are contributing positively to our free Cash Flow this year. We will invest the proceeds of the sale into the global growth of our divisions, our products and the extension of our technological leadership,” stated Bodo Uebber, Member of Daimler’s Board of Management for Finance & Controlling and Financial Services.
The stake in EADS held by Daimler after the transaction will amount to an approximate 7.5%.
Goldman Sachs and Morgan Stanley acted as Joint Bookrunners for the placement of EADS shares through the ABB.
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Daimler AG is one of the world’s most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides financing, leasing, fleet management, insurance and innovative mobility services.The company’s founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. As a pioneer of automotive engineering, Daimler continues to shape the future of mobility today: The Group’s focus is on innovative and green technologies as well as on safe and superior automobiles that appeal to and fascinate its customers. For many years now, Daimler has been investing continually in the development of alternative drive systems with the goal of making emission-free driving possible in the long term. So in addition to vehicles with hybrid drive, Daimler now has the broadest range of locally emission-free electric vehicles powered by batteries and fuel cells. This is just one example of how Daimler willingly accepts the challenge of meeting its responsibility towards society and the environment. Daimler sells its vehicles and services in nearly all the countries of the world and has production facilities on five continents. Its current brand portfolio includes, in addition to the world’s most valuable premium automotive brand, Mercedes-Benz, the brands smart, Maybach, Freightliner, Western Star, BharatBenz, Fuso, Setra and Thomas Built Buses. The company is listed on the stock exchanges of Frankfurt and Stuttgart (stock exchange symbol DAI). In 2011, the Group sold 2.1 million vehicles and employed a workforce of more than 271,000 people; revenue totaled EUR106.5 billion and EBIT amounted to EUR8.8 billion.
SOURCE Daimler Corporate Communications