LONDON, April 16 (Reuters) - British engine marker Rolls-Royce RR.L and German carmaker Daimler DAIGn.DE have agreed to value the 50 percent stake in a jointly owned power systems company that Daimler is selling to Rolls-Royce at 2.43 billion euros ($3.36 billion).

In March, Rolls-Royce said it would take full ownership of three-year-old Rolls-Royce Power Systems and would pay Daimler using cash and debt. Daimler said at the time that it expected a "significant cash flow" from the deal.

ID:nL6N0M43CV ID:nWEB00JXB

The companies said on Monday the deal was now expected to complete within the next five months and was subject to the usual regulatory approvals.

"We are pleased to reach an agreement with Rolls-Royce in such a short period of time," said Wolfgang Bernhard, Daimler's board management member for trucks and buses, "Irrespective of the ownership situation, we will keep connections to RRPS based on our existing supplier relationship."

($1 = 0.7234 Euros)

(Reporting by Brenda Goh, Editing by Paul Sandle)

((brenda.goh@thomsonreuters.com)(+44 020 7542 2230)(Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net))

Keywords: ROLLS ROYCE HLDG DAIMLER