DaimlerChrysler tipped to acquire Eicher founders'' majority stake

30 July 2007

Mumbai: According to a report in today''s Hindustan Times, the founders of truck maker Eicher Motors Ltd. are mulling divesting their 58 per cent majority stake to a global commercial vehicle maker.

The report, quoting unnamed sources, said German automaker DaimlerChrysler, which already holds a 3.56-per cent indirect stake in the company, which wants a majority stake in Eicher as part of its long-term India strategy, the paper said.

Daimler, which also holds a 6.6 per cent stake in Tata Motors, imports the Actros range of trucks in India and also plans to assemble semi-knocked down trucks.

It is building a plant in Pune to make 5,000 luxury Mercedes cars a year.

The company last week said it plans to evaluate "strategic partnership opportunities" and would evaluate all opportunities.

Media reports have said global truck makers including Daimler and Hyundai Motor were eyeing a stake in Eicher.