DaimlerChrysler’s supervisory board on Thursday approved the sale of its MTU Aero Engines subsidiary to US investment firm Kohlberg Kravis Roberts for €1.45 billion ($US1.77 billion), Associated Press (AP) reported.
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DC reportedly said the sale would add €1 billion or $US1.21 billion, to its net earnings.
AP said the sale of Munich-based MTU, which was announced last month, had been expected as part of DaimlerChrysler’s efforts to focus more closely on its core vehicle business.
