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  • German automobile giant Daimler said Wednesday it planned to spin off and float its truck division, as the maker of Mercedes-Benz pivots to focus squarely on its car business. "Daimler AG's Board of Management with the consent of the Supervisory Board today decided to evaluate a spin-off of its Truck and Bus business and begin preparations for a separate listing of Daimler Truck," the group said in a statement. Speculation had been rife in recent months about such a listing. Deutsche Bank analysts in January estimated that the spin-off could be worth about 29 billion euros ($35 billion). The planned listing on the Frankfurt stock exchange will be put to shareholders for approval during an extraordinary meeting likely during the third quarter of the year. It is expected to be completed by the end of 2021. jpl-hmn/dlc/rl
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  • Daimler unveils plans to spin-off truck division
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