Daimler prepares listing of trucks business -Handelsblatt

Daimler prepares listing of trucks business -Handelsblatt

German luxury carmaker Daimler is preparing a stock market listing of its trucks division, business newspaper Handelsblatt reported, citing company sources.

FILE PHOTO: The Daimler logo is seen before the carmaker's annual shareholder meeting in Berlin
FILE PHOTO: The Daimler logo is seen before the carmaker's annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke/File Photo

FRANKFURT: German luxury carmaker Daimler is preparing a stock market listing of its trucks division, business newspaper Handelsblatt reported, citing company sources.

The unit could be floated at the end of 2021, the sources said, adding division head Martin Daum is likely to get an early extension of his contract by three years as part of the plans.

Daimler was not immediately available for comment.

Rival Volkswagen last year listed its trucks unit Traton to put the business on an independent footing.

(Reporting by Christoph Steitz; editing by Grant McCool)

Source: Reuters

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