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Daimler to buy Ballard's auto business: magazine

FRANKFURT
Sat Nov 3, 2007 12:50pm EDT

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FRANKFURT (Reuters) - German car and truck maker Daimler (DAIGn.DE) has agreed to buy the automotive fuel cell business of Canada's Ballard Power Systems Inc (BLD.TO), business weekly WirtschaftsWoche reported on Saturday.

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Citing information from an unnamed source or sources at Ballard, the magazine wrote that the negotiations were complete and the deal could be officially announced in November. IT gave no financial details.

Daimler, which declined to comment, owns 18.7 percent of Ballard with another 11.2 percent controlled by U.S. carmaker Ford (F.N).
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