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Daimler Trucks will spin off in December if shareholders vote in favor of the split, CFO told Reuters

© Reuters. File Photo: The Daimler logo can be seen before Daimler’s annual shareholders meeting in Berlin, Germany, on April 5, 2018. REUTERS / HannibalHanschke / File Photo

Berlin (Reuters)-Daimler’s Truck Division The spin-off of Daimler Trucks Holdings will take place in December, CFO Harald Wilhelm said on Friday prior to a shareholder vote on the split.

The process, expected this year, will cost Daimler about € 700 million, said CEO Orakarenius, who spins off Daimler’s decision to hold a 35% stake in the truck maker.

Daimler Trucks is the world’s largest truck maker, with pre-pandemic revenues averaging 40 billion euros, but this year’s profit margins lag behind competitors such as Volvo Group’s Volvo Trucks and Traton’s Scania.

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Daimler Trucks will spin off in December if shareholders vote in favor of the split, CFO told Reuters

Source link Daimler Trucks will spin off in December if shareholders vote in favor of the split, CFO told Reuters

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