Engine Holding acquires stake in Tognum

Engine Holding GmbH, a joint venture between Daimler AG and Rolls-Royce Holding plc, has acquired a 59.87 per cent stake in Tognum AG.  As the 30 per cent takeover threshold has been met, an additional two week acceptance period has been granted, in accordance with German law. This period allows additional shareholders the opportunity to tender their shares, with the likely outcome that Engine Holding will attain the 75 per cent share required to enter into an assessment of Tognum’s global strategy.

The move offers significant strategic for both Tognum and Rolls-Royce, who between them are responsible for a large proportion of the medium and high-speed diesel engines that power propulsion systems. A spokesman for Tognum confirmed that an Engine Holding takeover would provide “compelling industry logic for Tognum’s future”. He continued, “the sale of their shares by Tognum’s management shows that they are keen for the takeover to proceed”. However, “until the 75 per cent threshold has been reached, a strategy review cannot be discussed”.

Volker Heuer, Chairman of the Executive Board and CEO of Tognum
AG, welcomed the company’s new majority shareholder: “With the acceptance of the offer by our shareholders, Tognum, Daimler and Rolls-Royce now embark on a highly promising shared future. Together with the two companies, we further strengthen our technological leadership in propulsion systems and distributed energy systems and develop our company into a platform for growth.”

“We will continue to provide customers with our proven standard of service,” Heuer added. “This will now be supplemented with access to new markets through and for our partners. In this way, we will boost our market presence notably in the BRIC states. Our customers will benefit from the attractive complementary strengths, technology and market access from the three world-class companies. For our workforce, this opens up outstanding prospects for professional development.”

WM

Related Links

Rolls-Royce Profile | Rolls-Royce Website

Daimler Website

Tognum Website

---

Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.