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| Author: | |
| Title: | Upheaval in Daimler |
| Journal: | Business Week
1996 : FEB, VOL. 3445:775, p. 14-17 |
| Index terms: | BANKING SHARES GERMANY |
| Language: | eng |
| Abstract: | Deutsche Bank (DB) forces the revamp, will Germany Inc. ever be the same ? DB is Germany's largest bank with $400 billion in assets. Daimler Benz,in turn, has $57 billion in sales as the biggest industrial company in Germany making everything from planes to autos. DB is Daimler's main banker. More important, DB holds 24% of Daimler's equity, worth some $6 billion. The problem: DB is getting an inadequate return on its Daimler shares. Until recently, DB has done little to promote badly needed change at the huge Daimler. Now, Daimler chief has been pushed out and management board cleaned out. The new manager is forcing a painful restructuring. |
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