DaimlerChrysler will sell and lease back its former Stuttgart headquarters in a deal that will generate EUR240m ($US303.8m) in cash and boost operating profit by around EUR18m this year.
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According to Reuters, DC said in a statement on Friday it had sold the property to IXIS Capital Partners and would lease it back for 15 years.
DaimlerChrysler said it would report the operating profit generated by the sale over the years of the leaseback, in accordance with US accounting standards.
“It will be an eight-digit figure (in euros) for each year, and will amount to 18 million euros in the year 2006,” it said, according to the report.
Reuters noted the property will change hands in the fourth quarter of this year if anti-trust authorities approve, and the cash flow will also be booked in this period.
