Daimler-Chrysler opts for Shearman on MTU purchase

Shearman & Sterling advised Daimler-Chrysler on its purchase of its final stake in MTU Friedrichshafen, a manufacturer of large diesel engines. Daimler-Chrysler already owned 88.35 per cent of the business and bought the final 11.65 per cent from the founding families. The purchase followed a disagreement between the two parties over the sale of the business to utilities vehicle group MAN.