Tognum Deal Appears Ready To Go
Sources in Europe said Daimler and Rolls-Royce will secure “unconditional” European Union (EU) approval to buy German engine builder Tognum. According to unconfirmed reports, the bidders want to move into the higher margin industrial diesel engine sector.
The European Commission is said to be ready to rubber stamp the deal shortly and the EU executive is reported to have set a July 25 deadline for its decision. Tognum, previously owned by Daimler, makes diesel and gas turbine engines for armored vehicles and tanks, generators, cranes, trains and ships.
For more information: www.tognum.com