The story
Tognum AG was formed when private equity fund EQT IV acquired in late 2005 several Off-Highway divisions of DaimlerChrysler. All units are to assume the corporate brand, but will otherwise operate independently.
The company went public on 2 July 2007, listed in the Prime Standard segment of the Frankfurt Stock Exchange. EQT retained a minority share of 22.3% until April 2008, when it was sold to Daimler AG.
Rolls-Royce Holdings and Daimler AG launched a takeover for Tognum in March 2011. The two companies announced on 24 June 2011 that their joint €3.4 billion tender offer had been successful, with 94% of Tognum shareholders accepting. Once the acquisition was complete, Tognum was run as a 50-50 joint venture, with Rolls-Royce merging its Bergen Marine diesel engines unit into the operation.
The acquisition of Tognum by the two companies was completed in September 2011 and the business continued to trade as Tognum AG until January 2014, when it was renamed Rolls-Royce Power Systems AG. Rolls-Royce Holdings confirmed in March 2014 that they would purchase Daimler AG's 50% stake in the joint venture. Daimler AG will continue to supply engines to Rolls-Royce as part of existing long term supply agreements which run to 2025, this results from smaller MTU engines being derived from Daimler AG's range of diesel engines used in their on-highway commercial vehicles.. Rolls-Royce later completed the sale of this smaller engine division to Deutz AG in August 2024.
Rolls-Royce funded the acquisition from Daimler AG through a mixture of cash and some borrowing, paying Daimler AG around £1.9 billion (€2.3 billion) for their stake in the business. Analysts expect the deal to add between 5 and 6% to Rolls-Royce earnings. Daimler AG will use the proceeds to fund investments in their core automotive business.
From Wikipedia’s article on Rolls-Royce Power Systems, shared under CC BY-SA 4.0.5