Proceeds from the transaction will be returned to shareholders, the CFO said during a call with investors, adding that it will give details on the size of the divestment in May. Daimler Truck’s stock fell as much as 2.7% in Frankfurt on Thursday.
(Feb 12): Mercedes-Benz Group AG plans to sell some of its stake in Daimler Truck Holding AG to raise funds as it grapples with weakening sales and margins.
The luxury-car maker will offload part of its roughly 35% holding in the truck and bus manufacturer this year, chief financial officer Harald Wilhelm said on Thursday. The entire stake is worth around EUR12 billion (US$14.2 billion or $18.0 billion).
