Daimler Shareholders Approve Truck Spinoff
01 Ottobre 2021 - 04:04PM
Dow Jones News
By Kim Richters
Daimler AG said Friday that its shareholders have approved plans
to spin off its commercial-vehicles operations, clearing the way to
list Daimler Truck on the stock exchange by the end of the
year.
The German car maker plans to hand a 65% stake in the
trucks-and-buses business to shareholders who will receive one
additional Daimler Truck Holding AG share for every two Daimler
shares held. Daimler wants to keep a 35% stake, with 5% transferred
to Daimler Pension Trust.
Shareholders at the extraordinary general meeting on Friday also
agreed to rename the remaining business of Daimler AG, which is
focussed on cars and vans in the luxury and premium segment, as
Mercedes-Benz Group AG from February next year.
At 1324 GMT, shares in Daimler were trading 1.5% higher at
EUR77.89.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 01, 2021 09:49 ET (13:49 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.