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Daimler welcomes the new shareholder agreement at EADS; reduction of own shareholding in 2012 proceeding as planned
-- Daimler and KfW continue to be in close contact
By: PR Newswire
Dec. 5, 2012 12:25 PM
STUTTGART, Germany, Dec. 5, 2012 /PRNewswire/ -- Daimler welcomes and supports the new organization of the shareholder structure at EADS and the related conclusion of a new shareholder agreement replacing the existing one. As before, Daimler intends to reduce its equity interest in EADS before the end of 2012 and in this context will sell some of its EADS shares, among others to KfW. Daimler and KfW are in close contact on this matter. Final decisions on the exact details of the sale will be made soon.
"We welcome the reorganization of the EADS shareholder structure with a limited state influence, which we have always advocated. This is a big step towards a more market-oriented shareholder structure and will expand the entrepreneurial freedom of EADS. In combination with the protective mechanisms on limiting voting rights that are now planned, EADS is extremely well prepared to face future challenges," stated Bodo Uebber, Member of Daimler's Board of Management for Finance & Controlling and Financial Services. "At the same time, we can further reduce our shareholding. As we have previously emphasized, we want to concentrate on our core business of automotive manufacturing and mobility services."
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 an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a worsening of the public debt crisis in the eurozone; a deterioration of our funding possibilities on the credit and financial markets; events of force majeure including natural disasters, acts of terrorism, political unrest, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates; a shift in consumer preference towards smaller, lower margin vehicles; or a possible lack of acceptance of our products or services which limits our ability to achieve prices as well as to adequately utilize our production capacities; price increases in fuel or raw materials; disruption of production due to shortages of materials, labor strikes, or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook of companies in which we hold a significant equity interest, most notably EADS; the successful implementation of strategic cooperations and joint ventures; 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 conclusion 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. 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.
In 2011, the Group sold 2.1 million vehicles and employed a workforce of more than 271,000 people; revenue totaled €106.5 billion and EBIT amounted to €8.8 billion.
SOURCE Daimler Corporate Communications
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