Pegaso waits for no MAN
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• MAN has pulled out of a bid to take over Spanish truck maker Enasa. It had been collaborating with Daimler-Benz to snap up the state-owned manufacturer, but the West German Cartel Office blocked the deal. Now Daimler-Benz looks for a new partner.
The £157m deal, ran into problems when the West German Cartel Office and the European Commissioner objected because merging two major manufacturers would affect the local market. '
The Spanish government suggested splitting Enasa into two, with Daimler-Benz producing Pegaso light CVs and MAN making Pegaso heavy trucks. But this failed to satisfy the Cartel Office.
Daimler-Benz is determined to find a new solution", which may include a bigger stake than the planned 20% (20% was to be retained by the Spanish government). It denies that Spain is upset by the German indecision.