Daimler to keep 35% stake in trucks spin-off as separation nears

Reuters2021-07-30

FRANKFURT (Reuters) -Daimler will keep a 35% stake in the trucks division it plans to spin off later this year, the luxury carmaker said on Friday, unveiling more details about the landmark corporate split announced earlier this year.

The spinoff of Daimler Truck Holding AG as a separate listed entity will be voted on by Daimler shareholders at an extraordinary general meeting on Oct. 1. They will receive one share in the trucks division for every two Daimler shares.

Daimler, in turn, will be renamed Mercedes-Benz Group AG to reflect its focus on the car and van business including the Mercedes-Benz brand.

"Daimler's realignment makes one success story into two," Daimler Chief Executive Ola Kaellenius said.

"With this courageous step into a new future, we are creating added value with two pure-play companies for our customers, employees, shareholders and partners."

Daimler AG will provide Daimler Truck Holding AG with net liquidity of 5 billion euros ($5.94 billion) until the end of the year, when the truckmaker's shares are expected to start trading, so that it can achieve an investment-grade rating.

($1 = 0.8418 euros)

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Comments

MGOH
2021-08-01
MGOH
Like
NicNg
2021-07-31
NicNg
Please like and comment thanks
- NicNg:
  Thanks!
- Huat899:
  Pls like and comment, thanks
- NicNg:
  Thanks please liKe my comment
Whiteowl88
2021-07-31
Whiteowl88
Ok
- Bin8:
  yes
- Huat899:
  Pls like and comment, thanks
watertreader
2021-07-31
watertreader
Bad
nayoowin
2021-07-31
nayoowin
Nice
Kingkong86
2021-07-31
Kingkong86
Nice
- Gabriel林倡銘:
  Nice

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