Daimler denies talks with Fiat regarding industrial bid

Article by Christian Andrei, on September 23, 2010

Daimler AG denies a report from an Italian newspaper that it made a 9 billion-euro ($12 billion) pre-offer to Fiat S.p.A. Daimler said that in fact, it hasn’t been meeting with Fiat to discuss plans to take over the Italian carmaker's industrial operations. Daimler is the world's largest maker of heavy trucks and the No. 2 in luxury vehicles.

Fiat CEO Sergio Marchionne said that to focus on carmaking, it will spin off industrial operations, including the Iveco truckmaking unit and CNH Global NV tractor division.

Last Wednesday, Daimler spokesman Florian Martens said, “In our industry at this time, everyone is talking with everyone and so are we.”

A report from la Repubblica said that talks between Fiat and Daimler are stuck as Fiat seeks 10.5 billion euros for Fiat Industrial S.p.A., the truck and tractor unit that was spun off from Fiat S.p.A.

Jochen Gehrke, an analyst at Deutsche Bank AG, estimates that Fiat Industrial may have a market value of 13 billion euros.

The report also said that it’s possible for a deal to still be reached after the industrial division's listing in Milan next year.

Several analysts were skeptical about the report but they realize that Fiat may have left itself open as one aim of the industrial unit spinoff was to enable the division to enter alliances. [via autonews - sub. required]

Topics: daimler, fiat

If you liked the article, share on:


Login or Create new account to add a comment!


Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016
Many are already expecting BMW to launch an ultra luxurious SUV that will serve at its new flagship by late 2018. Larger than the X5 and X6, the new X7...
by - October 21, 2016
Most of you may have heard or already have one of those autonomous home appliances doing the house chores. Thus, it’s not anymore unusual to see a car going places...
by - October 20, 2016