Daimler Plans Spin-Off and IPO of Daimler Truck
Daimler Trucks unveiled a prototype of a future electric truck in Berlin last September.
Photo by AP Yonhap News
[Asia Economy Reporter Park Byung-hee] German automaker Daimler is planning to spin off Daimler Trucks by the end of this year, according to major foreign media reports on the 27th (local time).
Daimler Trucks is the world's largest truck and bus manufacturer.
Harald Wilhelm, Daimler's Chief Financial Officer (CFO), said in an interview with the German automotive weekly Automobilwoche, "We plan to independently list Daimler Trucks on the stock market by the end of this year." He emphasized, "I am confident that the spin-off of Daimler Trucks and the reorganization of Daimler's structure are logically sound and beneficial from an industrial perspective."
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Frank Biller, an analyst at LBBW, predicted that if Daimler Trucks goes public, it could be included in Germany's DAX index by March next year.
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