Shareholders green light Daimler Trucks separation

An incredible normal meeting nowadays noticed Daimler AG established course for a historic realignment of the organization.

The prepared spin-off of Daimler Truck by the end of 2021 will see Daimler Truck Holding stated on the Frankfurt Inventory Exchange.

Shareholders also authorized the renaming of Daimler as Mercedes-Benz Group from 1 February 2022, emphasizing the foreseeable future focus on the car and van business enterprise.

Daimler chairman Bernd Pischetsrieder said: “Our organization is producing the appropriate choice at the appropriate time to sustainably safeguard success. Daimler Truck and Mercedes-Benz will be ready to grasp the transformation of the field even additional properly with total entrepreneurial flexibility and an independent administration construction. By spinning off the business car or truck business enterprise, we aim to make value for our shareholders, maximize our profitability and completely exploit our potential.”

As a result of the realignment of Daimler AG and the prepared spin-off of Daimler Truck, shareholders will hold a sixty five% stake in the new Daimler Truck Holding which will then be stated on the stock exchange as an independent organization.

Daimler shareholders are to receive a single extra share in Daimler Truck Holding for every single two shares they hold in Daimler.

Daimler will retain a minority fascination of 35% in Daimler Truck Holding and designs to transfer 5% to Daimler Pension Belief.