DaimlerChrysler sells property management unit

Reuters / FRANKFURT -- DaimlerChrysler has sold property management unit DaimlerChrysler Objektmanagement und Service GmbH (DEBEOS) to Denmark's ISS as it divests non-core activities, the carmaker said today.

It gave no financial terms for the sale of DEBEOS, which employs 581 staff and had 2005 revenue of $121 million (94.5 million euros).

"The sale is part of the ongoing measures to increase efficiency and optimize portfolios, with the aim of improving the return on net assets," a DaimlerChrysler statement said.

The deal is expected to close in the fourth quarter, pending anti-trust approval, it said.