DaimlerChrysler’s talks on the sale of its steering gear unit Mercedes-Benz Lenkungen to a proposed new JV involving ThyssenKrupp are reportedly flagging again and are now expected to be completed by the end of the year at the latest, daily Die Welt reports, citing unnamed company sources.
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One reason speculated for the renewed delay to an agreement is that Mercedes-Benz Lenkungen is expected to post a loss of between two and three million euros this year instead of breaking even, the paper says. And pension claims for 1,100 employees in North-Rhine Westphalia are higher than ThyssenKrupp had known, the paper says.
As recently as the end of June the companies were said to be close to closing a deal.
