RAG sells DBT mining machinery ops to US co Bucyrus for 559 mln eur

FRANKFURT (AFX) - RAG AG said it is selling its underground mining machinery unit DBT GmbH to US-based Bucyrus International Inc for 559 mln eur.

Bucyrus will take over 49.9 pct of the stock now and the remaining 50.1 pct by Dec 31, 2009.

DBT currently has 3,200 employees and forecasts revenues of 800 mln eur for the current year.

RAG Coal International head Juergen Stadelhofer said Bucyrus' acquisition will yield long-term growth prospects for DBT. [e-mail] pk/jsa COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited