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Daimler 'not a takeover candidate'

Frankfurt, April 27, 2012

German automotive group Daimler finance chief Bodo Uebber refuted speculation on Friday that the company could be acquired, amid news reports that Abu Dhabi and its Aabar investment fund is exiting its stake.

'We are not a takeover candidate, we're a healthy company with a balanced shareholder structure,' he told reporters during a conference call after Daimler published first-quarter financial results.

Daimler expects to achieve a free cash flow from its industrial operations this year that is more than enough to fund its April dividend payment, a spokesman for the company said.

He was clarifying a comment Uebber during conference call referring to 'operating cash flow', explaining that Uebber meant free cash flow from ongoing operations.

'This does not include any possible cash contributions for pension obligations or any investments stemming from mergers and acquisitions,' Uebber had said.-Reuters




Tags: abu dhabi | Aabar | Germany | Automotive | Daimler | acquire |

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