BERLIN and STUTTGART, Germany, March 19 /PRNewswire-FirstCall/ -- Daimler AG
(NYSE: DAI) and the consortium of private and public-sector
investors have confirmed to continue the agreement reached on
February 9, 2007 concerning the
equity interests and voting rights in the European Aeronautic
Defence and Space Company (EADS). At Germany's Federal Chancellery on March 16, 2010, Daimler and the investors stated
their willingness to continue the existing agreement without any
changes.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20080409/NYW017LOGO )
As a result, Daimler continues to hold 22.5% of the voting
rights in EADS while its economic interest is still 15%. Thus, the
existing balance of voting rights between German and French
shareholders remains unchanged.
"The confirmation of the voting-rights structure gives EADS the
stability to consistently pursue its strategic goals. Ten years
after EADS was founded, Daimler still plays a crucial role in the
continuation of this success story of European integration," stated
Bodo Uebber, Member of the Board of Management of Daimler AG and
Chairman of the Supervisory Board of EADS N.V.
The ownership structure was worked out under the coordination of
the Federal Chancellery and was agreed upon on February 9, 2007. At that time, Daimler placed
its entire 22.5% equity interest in EADS into a company in which
the investor consortium holds a one-third interest through a
special purpose entity. This is equivalent to the investor
consortium holding a 7.5% equity interest in EADS.
The agreement includes an option for Daimler to end this
structure as of July 1, 2010.
Following consultation with the investor consortium, Daimler will
not make use of this option. The existing ownership structure and
other arrangements remain unaffected.
The investor consortium consists of 15 investors: seven in the
private sector and eight in the public sector. The private-sector
investors hold 60% of the special-purpose vehicle and the
public-sector investors hold 40%.
The private-sector investors are Allianz, Commerzbank, Credit
Suisse, Deutsche Bank and Goldman Sachs, each of which holds 10% of
the special-purpose vehicle, as well as Morgan Stanley and Sal.
Oppenheim, each of which holds 5%.
On the side of the public sector, the KfW banking group holds
13%, HGV Hamburger Gesellschaft fur Vermogens- und
Beteiligungsverwaltung (State of
Hamburg) holds 10%, Hannoversche Beteiligungsgesellschaft
(State of Lower Saxony) holds 5%, Bayerische
Landesbodenkreditanstalt, Anstalt der Bayerischen Landesbank holds
3.5%, LfA Forderbank Bayern holds 1.5%, Landesbank
Baden-Wurttemberg and Landeskreditbank Baden-Wurttemberg –
Forderbank (L-Bank) each holds 2.5%, and Bremer
Investitions-Gesellschaft (State of
Bremen) holds 2%.
Further information on Daimler is available on the internet at:
http://media.daimler.com
This document contains forward-looking statements that reflect
our current views about future events. The words "anticipate,"
"assume," "believe," "estimate," "expect," "intend," "may," "plan,"
"project," "should" and similar expressions are used to identify
forward-looking statements. These statements are subject to many
risks and uncertainties, including a lack of further improvement or
a renewed deterioration of global economic conditions, in
particular a renewed decline of consumer demand and investment
activity in Western Europe or
the United States, or a downturn
in major Asian economies; a continuation or worsening of the tense
situation in the credit and financial markets, which could result
in a renewed increase in borrowing costs or limit our funding
flexibility; changes in currency exchange rates or interest rates;
the ability to continue to offer fuel-efficient and environmentally
friendly products; a permanent shift in consumer preference towards
smaller, lower margin vehicles; the introduction of competing,
fuel-efficient products and the possible lack of acceptance of our
products or services, which may limit our ability to adequately
utilize our production capacities or raise prices; price increases
in fuel, raw materials and precious metals; disruption of
production due to shortages of materials, labor strikes, or
supplier insolvencies; a further decline in resale prices of used
vehicles; the effective implementation of cost-reduction and
efficiency-optimization programs at all of our segments, including
the repositioning of our truck activities in the NAFTA region and
in Asia; the business outlook of
companies in which we hold an equity interest, most notably EADS;
changes in laws, regulations and government policies, particularly
those relating to vehicle emissions, fuel economy and safety, the
resolution of pending governmental investigations and the outcome
of pending or threatened future legal proceedings; and other risks
and uncertainties, some of which we describe under the heading
"Risk Report" in Daimler's most recent Annual Report and under the
headings "Risk Factors" and "Legal Proceedings" in Daimler's most
recent Annual Report on Form 20-F filed with the Securities and
Exchange Commission. If any of these risks and uncertainties
materialize, or if the assumptions underlying any of our
forward-looking statements prove incorrect, then our actual results
may be materially different from those we express or imply by such
statements. We do not intend or assume any obligation to update
these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
About Daimler
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 its customers
with a full range of automotive financial services including
financing, leasing, insurance and fleet management.
The company's founders, Gottlieb Daimler and Carl Benz, made history with the invention of
the automobile in the year 1886. As an automotive pioneer, Daimler
continues to shape the future of mobility. The Group applies
innovative and green technologies to produce safe and superior
vehicles which fascinate and delight its customers. With the
development of alternative drive systems, Daimler is the only
vehicle producer investing in hybrid drive, electric motors and
fuel-cell systems, with the goal of achieving emission-free
mobility in the long term. 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 automotive brand, Mercedes-Benz, the
brands smart, Maybach, Freightliner, Western Star, Fuso, Setra,
Orion and Thomas Built Buses. The company is listed on the stock
exchanges of Frankfurt,
New York and Stuttgart (stock exchange symbol DAI). In
2009, the Group sold 1.6 million vehicles and employed a workforce
of more than 256,000 people; revenue totaled euro 78.9 billion and EBIT amounted minus
euro 1.5 billion.
SOURCE Daimler Corporate Communications