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 securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

formed in April 1987, when

DAF Trucks DAF Trucks is a Dutch truck manufacturing company and a division of Paccar. Its headquarters and main plant are in Eindhoven. Cabs and axle assemblies are produced at its Westerlo plant in Belgium. Some of the truck models sold with the DAF ...

and the Leyland Trucks division of the

Rover Group The Rover Group plc was the British vehicle manufacturing conglomerate known as "BL plc" until 1986 (formerly British Leyland), which had been a state-owned company since 1975. It initially included the Austin Rover Group car business (comprisi ...

merged. In February 1993, it was placed in receivership.

History

DAF BV was formed on 6 April 1987, when the Dutch

company merged with the Leyland Trucks division of the British

, 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 ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population ...

and

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

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, munitions and defence-systems manufacturer. Its head office was at Warwick House in the Farnborough Aerospace Centre in Farnborough, Hampshire. Formed in 1977, in 1999 it purchased Marconi ...

) 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 cargo, carry specialized payloads, or perform other utilitarian work. Trucks vary greatly in size, power, and configuration, but the vast majority feature body-on-frame construction ...

s at its plants in

Eindhoven Eindhoven () is a city and municipality in the Netherlands, located in the southern province of North Brabant of which it is its largest. With a population of 238,326 on 1 January 2022,Leyland, and vans at its plant in

Birmingham Birmingham ( ) is a city and metropolitan borough in the metropolitan county of West Midlands in England. It is the second-largest city in the United Kingdom with a population of 1.145 million in the city proper, 2.92 million in the West ...

in England. 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"—especially in ca ...

, 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 buyout became noted phenomena of 1 ...

s: *

, as a truck manufacturer based in Eindhoven, with the

Flemish Flemish (''Vlaams'') is a Low Franconian dialect cluster of the Dutch language. It is sometimes referred to as Flemish Dutch (), Belgian Dutch ( ), or Southern Dutch (). Flemish is native to Flanders, a historical region in northern Belgium; ...

and Netherlands governments holding the majority of the shares. *

LDV Group LDV Group Limited, formerly Leyland DAF Vans, was a British van manufacturer based in Washwood Heath, Birmingham. Historically part of Rover Group and Leyland DAF, it was later a wholly owned subsidiary of the Russian GAZ Group. Owing to the g ...

, as a

van A van is a type of road vehicle used for transporting goods or people. Depending on the type of van, it can be bigger or smaller than a pickup truck and SUV, and bigger than a common car. There is some varying in the scope of the word across th ...

manufacturer based in Birmingham, England backed by 3i *

Leyland Trucks Leyland Trucks is a medium- and heavy-duty truck manufacturer based in Leyland, Lancashire, England. It can trace its origins back to the original Leyland Motors, which was founded in 1896, and subsequently evolved into British Leyland. Afte ...

, as a truck manufacturer based in Leyland, England DAF Trucks and Leyland Trucks ended up both being acquired by

Paccar Paccar Inc is an American ''Fortune'' 500 company and counts among the largest manufacturers of medium- and heavy-duty trucks in the world, and has substantial manufacturing in light and medium vehicles through its various subsidiaries. It was o ...

, 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 automobile manufacturer headquartered in Anting, Shanghai. Founded in 1955, it is currently the largest of the " Big Four" state-owned car manu ...

.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 Dual-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