Daimler to sell truck unit by year-end – CFO
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Daimler AG’s FUSO Super Great truck is pictured at the 45th Tokyo Motor Show in Tokyo, Japan on October 27, 2017. REUTERS / Kim Kyung-Hoon
BERLIN, June 27 (Reuters) – German automaker Daimler is on track to part with Daimler Truck, the world’s largest truck and bus maker, by the end of the year, its chief executive said on Sunday. financial.
“We are on schedule with the detailed preparations for this complex project and aim to go public with Daimler Truck as an independent company by the end of this year,” CFO Harald Wilhelm told the weekly Automobilwoche.
“We are convinced of the industrial logic and the benefits of the planned realignment of Daimler and the spin-off of Daimler Truck. “
A spokesperson for Daimler said on Sunday that the company had no further comment on the report.
The plan – announced in February – aims to increase Daimler’s appeal to investors as a luxury electric car company, as the Mercedes-Benz brand challenges Tesla Inc (TSLA.O), Porsche, BMW (BMWG .DE) and others. Read more
LBBW analyst Frank Biller told Daimler Truck magazine he could join the German DAX Index (.GDAXI) of blue-chip companies next March.
In the truck market, Daimler faces traditional competitors such as Swedish AB Volvo (VOLVb.ST), Volkswagen AG unit (VOWG_p.DE) Traton (8TRA.DE) and Paccar Inc (PCAR.O)
As part of the planned spin-off, a significant majority stake in Daimler Truck would be distributed to Daimler shareholders.
Reporting by Emma Thomasson; Editing by Jan Harvey
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