Germany – Daimler AG of Stuttgart is looking to spin-off its truck and bus business, which operates currently as Daimler Truck AG. Daimler says this proposed fundamental change in its business structure is designed to unlock the full potential of its businesses in a zero-emissions, software-driven future.

Daimler says the Supervisory and Management Boards have already agreed to evaluate a spin-off of the Truck and Bus business and to begin preparations for a separate listing of Daimler Truck. It is intended that a significant majority stake in Daimler Truck will be distributed to Daimler shareholders. The Daimler Truck business will have fully independent management, stand-alone corporate governance including an independent chairman of the supervisory board, and it plans to qualify as a DAX-listed  company. The transaction and the listing of Daimler Truck on the Frankfurt stock exchange is expected to be complete before year-end 2021. It is also Daimler’s intention to rename itself as Mercedes-Benz at the appropriate time.