Daimler sees $780 million windfall from sale of Tesla stake
Oct. 21, 2014 23:18 CET
Auto News Europe
FRANKFURT -- Daimler AG on Tuesday said it would book a $780 million windfall from selling its 4 percent stake in rival electric car maker Tesla Motors Inc.
A cooperation agreement to supply Mercedes-Benz cars with Tesla battery technology will remain unaffected by the sale, Daimler CEO Dieter Zetsche said in a statement.
"Our partnership with Tesla is very successful and will be continued," Zetsche said.
The sale of Daimler's stake in Tesla will result in a cash inflow of around $780 million, boosting earnings before interest and taxes by a similar amount for 2014. Proceeds from the sale will be used to strengthen Daimler's operations, the company said.
"We are extremely satisfied with the development of our investment in Tesla, but it is not necessary for our partnership and cooperation. For this reason, we have decided to divest of our shares," Daimler CFO Bodo Uebber said in a statement.
http://europe.autonews.com/article/...780-million-windfall-from-sale-of-tesla-stake
Oct. 21, 2014 23:18 CET
Auto News Europe

FRANKFURT -- Daimler AG on Tuesday said it would book a $780 million windfall from selling its 4 percent stake in rival electric car maker Tesla Motors Inc.
A cooperation agreement to supply Mercedes-Benz cars with Tesla battery technology will remain unaffected by the sale, Daimler CEO Dieter Zetsche said in a statement.
"Our partnership with Tesla is very successful and will be continued," Zetsche said.
The sale of Daimler's stake in Tesla will result in a cash inflow of around $780 million, boosting earnings before interest and taxes by a similar amount for 2014. Proceeds from the sale will be used to strengthen Daimler's operations, the company said.
"We are extremely satisfied with the development of our investment in Tesla, but it is not necessary for our partnership and cooperation. For this reason, we have decided to divest of our shares," Daimler CFO Bodo Uebber said in a statement.
http://europe.autonews.com/article/...780-million-windfall-from-sale-of-tesla-stake