Daimler CFO Bodo Uebber denies rumors of potential takeover

Article by Christian A., on April 29, 2012

Daimler's Chief Financial Officer Bodo Uebber has dismissed speculations that the automaker could be acquired, despite media reports that Gulf emirate Abu Dhabi and its Aabar investment fund is exiting its share. In a conference call following Daimler's release of first-quarter financial results, Uebber emphasized that they are "not a takeover candidate," adding that they are "a healthy company with a balanced shareholder structure."

Daimler is anticipating having a free cash flow in 2012 from its industrial operations, which is more than sufficient to finance its April dividend payment of 2.35 billions, a company spokesperson disclosed. He was explaining a comment made by Uebber during the conference call referring to "operating cash flow." The spokesperson clarified that Uebber meant free cash flow from ongoing operations.

Uebber had stated that this does not include any potential cash contributions for pension obligations or any investments resulting from acquisitions and mergers. Last week, Germany's manager magazin revealed that Abu Dhabi is currently in talks regarding ways to dispose its remaining 3% share in Daimler. Through its Aabar investment fund, the Gulf state invested 1.95 billion euros in March 2009 in Daimler, providing fresh capital amidst the worldwide recession. [source: Autonews]

Topics: daimler

If you liked the article, share on:

Comments

Recommended

For many years, Lamborghini has always relied on the use of large and powerful engines including the V10 and the V12. In fact, the company’s very first engine in the...
by - October 17, 2017
You can now get the Opel Crossland X that’s LPG-powered if you are not a fan of diesel. Recently, the company released their version of the Peugeot 2008 equipped with...
by - October 17, 2017
As seasons change, temperatures rise and fall. The changes affect our preferences when it comes to driving cars. Therefore, Aston Martin introduces the new DB11 Volante or convertible, and it...
by - October 16, 2017
Aston Martin may be known for building many of the stylish Bond cars we see on the big screen but nobody really knew how it can get super aggressive when...
by - October 16, 2017
Today, manual transmissions have become rare in mainstream cars and are more commonly found in performance cars within the $20,000 to $40,000 range. However, the selection of affordable, three-pedal performance...
by - October 16, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries