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Daimler To Begin Preparations For Separate Listing Of Daimler Truck - Quick Facts

German auto giant Daimler AG (DDAIF.PK) said Wednesday that it has decided to evaluate a spin-off of its Truck and Bus business and begin preparations for a separate listing of Daimler Truck.

The company said a significant majority stake in the Daimler Truck business would be distributed to Daimler AG's shareholders, due to the spin-off.

The company stated that Daimler Truck business will have fully independent management and a stand-alone corporate governance. Daimler would seek for Supervisory Board representation at Daimler Truck.

A spin-off would require the approval of an extraordinary shareholders' meeting of Daimler. The meeting could be held at the end of third-quarter 2021.

The company plans to complete the potential spin-off and the listing of Daimler Truck at the Frankfurt stock exchange before year-end 2021.

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