We have been talking about the spin off of the Truck division of the Daimler Group, a hypothesis that is gaining more and more share, especially after the shareholders of the German group voted in favor of the spin-off. The trading process for the shares of the new company will begin next December, which is expected to become the largest truck manufacturer in the world once the spin-off is completed. At the vote the shareholders representing 56.45% of the capital of Daimler participated in the extraordinary meeting.
The outcome of the vote was extraordinarily unanimous, with 99.9% of the votes in favor of the spin-off of the Truck division. “So far we have had to orient our strategies based on the path followed by our colleagues in the automotive division – said Martin Daum, CEO of Daimler Truck – In the future we will be able to plan our route independently, and choose the ideal route for us“. According to Reuters, Daimler shareholders will receive one share of the Truck division for every two Daimler shares owned. In addition, the Daimler Group will retain a 35% stake in the Truck division, and will provide it with net liquidity of 5 billion euros until the end of the year. Once the spin-off is complete, the Daimler Group will change its name to Mercedes-Benz Group AG, and will include the Mercedes, Smart, AMG and Maybach brands.