Daimler expands
NZPA-Reuter West Berlin A prestige car and truck maker, Daimler-Benz, has won approval from West Germany’s anti-trust authority to take over an electrical group, AEG, in the country’s biggest corporate link-up. Daimler’s purchase of a 56 per cent holding in AEG will make it West Germany’s largest industrial conglomerate, with a worldwide workforce of almost 300,000. The Federal Cartel Office gave the green light to Daimler, maker of MercedesBenz cars-and trucks, after it and AEG agreed to sell holdings in a number of com-
panles that linked them with competitors. The take-over, costing just under 1.8 billion marks (SNZI.3IB), is Daimler’s biggest move in a strategy of diversification into high-tech-nology it began last year with the purchase of an engine maker, MTU, and an aerospace and research group, Dornier. Behind the flurry of acquisitions, Daimler has said, lies its aim of extending a technological lead over International rivals at a time when the car is becoming an increasingly high-technology product.
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Press, 15 February 1986, Page 22
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162Daimler expands Press, 15 February 1986, Page 22
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