At today’s extraordinary general meeting, the shareholders of the German automobile concern Daimler approved the division of the truck and bus production division. The shares of the separate company are expected to start trading on the stock exchange in December, the company said today.
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Daimler unveiled plans to divide the division and list its shares in early February. The group also stated at the time that the remaining part of it, including the production of passenger cars, would be renamed Mercedes-Benz in the future.
According to Daimler, both parts of the group should be able to better respond to the rapidly changing business environment thanks to the division. Daimler will retain a 35 percent stake in the truck and bus division.
“Daimler is turning into two companies – strong and independent. On the one hand, there are cars and vans, on the other hand, trucks and buses,” said Daimler boss Ola Källenius. He pointed out that cars and trucks are two completely different areas of business.
