Wednesday, February 03, 2021
Renaming to Mercedes-Benz
Daimler wants to split up
Car manufacturer Daimler wants to split off its truck division and go public. This would split the previous business into two companies. CEO Källenius speaks of a historic moment. The auto division will then have a historical name.
Daimler wants to spin off its commercial vehicle division and go public by the end of this year. As the automotive company announced, the Board of Management and the Supervisory Board arranged for such a spin-off to be examined and for Daimler Truck to go public in Frankfurt. The aim is to split the previous Daimler business into two independent companies. Daimler itself is to be renamed Mercedes-Benz "when the time comes".
"It is intended that the majority stake in Daimler Truck will be transferred to today's Daimler shareholders," the company announced. The corporate management is therefore striving to meet the criteria for inclusion in the German leading index Dax with the independent commercial vehicle company.
"This is a historic moment for Daimler and the beginning of a profound restructuring of the company," said Daimler boss Ola Källenius. The two new sole proprietorships for cars on the one hand and commercial vehicles on the other are "active in industries that are changing technologically and structurally comprehensively". They could shape this change more effectively if they acted as independent units, explained Källenius.
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