DAF NV (originally DAF BV) was a

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

formed in April 1987, when DAF Trucks and the Leyland Trucks division of the Rover Group merged. In February 1993, it was placed in receivership.

History

DAF BV was formed on 6 April 1987, when the Dutch DAF Trucks company merged with the Leyland Trucks division of the British Rover Group, which included the van making business of

Freight Rover Freight Rover was a British commercial vehicle manufacturer based in the Washwood Heath area of Birmingham, England. History Freight Rover was created as a division of the Land Rover Group of British Leyland (BL) in 1981, creating a new singl ...

. The new company was jointly owned by DAF Beheer (60%) and Rover Group (40%). In June 1989, DAF was floated on the

Amsterdam Amsterdam ( , ; ; ) is the capital of the Netherlands, capital and Municipalities of the Netherlands, largest city of the Kingdom of the Netherlands. It has a population of 933,680 in June 2024 within the city proper, 1,457,018 in the City Re ...

and

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

s, and renamed DAF NV with DAF Beheer and the Rover Group (now owned by

British Aerospace British Aerospace plc (BAe) was a British aircraft manufacturer, aircraft, munitions and defence-systems manufacturer that was formed in 1977. Its head office was at Warwick House in the Farnborough Aerospace Centre in Farnborough, Hampshire. ...

) reducing their shareholdings to 22% and 16% respectively. DAF NV's products were sold under the

Leyland DAF Leyland DAF was a commercial vehicle manufacturing company based in Leyland, Lancashire, Leyland, United Kingdom, and a subsidiary of DAF NV. In February 1993, Leyland DAF was placed into receivership. History Leyland DAF was formed in Febru ...

banner in the United Kingdom, and as DAF elsewhere. It manufactured

truck A truck or lorry is a motor vehicle designed to transport freight, carry specialized payloads, or perform other utilitarian work. Trucks vary greatly in size, power, and configuration, but the vast majority feature body-on-frame construct ...

s at its plants in

Eindhoven Eindhoven ( ; ) is a city and List of municipalities of the Netherlands, municipality of the Netherlands, located in the southern Provinces of the Netherlands, province of North Brabant, of which it is the largest municipality, and is also locat ...

and Leyland, and vans at its plant in Washwood Heath (

Birmingham Birmingham ( ) is a City status in the United Kingdom, city and metropolitan borough in the metropolitan county of West Midlands (county), West Midlands, within the wider West Midlands (region), West Midlands region, in England. It is the Lis ...

). In February 1993, DAF NV was placed in

receivership In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especia ...

, after a downturn in sales and an inability to refinance, with the business sold in three

management buyout A management buyout (MBO) is a form of acquisition in which a company's existing managers acquire a large part, or all, of the company, whether from a parent company or individual. Management- and/or leveraged buyouts became noted phenomena of 19 ...

s: * DAF Trucks, as a truck manufacturer based in Eindhoven, with the Flemish and Netherlands governments holding the majority of the shares. * Leyland Trucks, as a truck manufacturer based in Leyland, England * LDV, as a van manufacturer based in Birmingham, England backed by 3i, which continued trading until 2009. DAF Trucks and Leyland Trucks ended up both being acquired by

Paccar Paccar Inc. (stylized as PACCAR) is an American company primarily focused on the design and manufacturing of large commercial trucks through its subsidiaries DAF, Kenworth and Peterbilt sold across markets worldwide. The company is headquartere ...

, DAF Trucks in 1996 and Leyland Trucks in 1998 respectively. while LDV shut down and its intellectual property was acquired by

SAIC Motor SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation) is a Chinese State-owned enterprises of China, state-owned automobile manufacturer headquartered in Anting, Shanghai. Founded in 1955, it is currently the largest of the ...

.SAIC launched new brand Maxus for vans
''China Car Times'' 3 March 2011

References

{{DEFAULTSORT:Daf Nv Companies formerly listed on Euronext Amsterdam Companies formerly listed on the London Stock Exchange Former cross-listed companies Holding companies of the Netherlands Holding companies established in 1987 Holding companies disestablished in 1993 Rover Company 1980s initial public offerings Dutch companies established in 1987 Dutch companies disestablished in 1993