Daimler AG / Key word(s): IPO
03.02.2021, 3:00 pm
Daimler AG plans majority spin-off and listing of Daimler Truck
Stuttgart - Daimler AG's Board of Management with the consent of the Supervisory Board today decided to evaluate a spin-off of its Truck and Bus business and begin preparations for a separate listing of Daimler Truck. As a result of the spin-off, a significant majority stake in the Daimler Truck business would be distributed to Daimler AG's shareholders allowing for a deconsolidation.
The Daimler Truck business will have fully independent management and a stand-alone corporate governance. Daimler would seek for Supervisory Board representation at Daimler Truck in line with the intended deconsolidation.
A spin-off would require the approval of an extraordinary shareholders' meeting of Daimler AG, which could be held at the end of Q3 2021. In this case, the transaction and the listing of Daimler Truck at the Frankfurt stock exchange are planned to be completed before year-end 2021.
03-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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