Daimler Plans to Unlock Value with Truck Spin-Off
Daimler (OTC: DMLR.Y), known for its Mercedes-Benz brand, but also a producer of Smart cars, commercial trucks, vans, and buses, announced Wednesday that it would evaluate a large fundamental change in its business structure.
Daimler's plan calls for a separation of the automaker into two pure-play companies, with the majority listing Daimler Truck to focus on zero-emissions technology and software business. Management will begin preparing for a listing of Daimler Truck with the intentions that a significant majority stake in Daimler Truck will be granted to Daimler shareholders. The goal is for the transaction and the listing of Daimler Truck (on the Frankfurt stock exchange) to be completed before the end of 2021. And once the spinoff is complete, Daimler aims to rename itself Mercedes-Benz.
Image source: Daimler.
Source Fool.com
