March 7, 2014 / 4:48 PM / 3 years ago

Daimler to sell 50 pct stake in Rolls-Royce Power Systems

FRANKFURT, March 7 (Reuters) - German carmaker Daimler said on Friday it intends to sell its 50 percent stake in its joint venture Rolls-Royce Power Systems Holding to its partner, British engineering company Rolls-Royce.

Daimler said in a statement it was making use of an option to sell, which was agreed with Rolls-Royce in 2011.

Financial terms will be agreed in the coming months, Daimler said, adding it expected a "significant cash inflow" from the deal.

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