Daimler shareholders vote in favour of truck division spinoff By Reuters

October 1, 2021 admin Stock News 0

© Reuters. FILE PHOTO: A new Daimler AG, FUSO battery-powered eCanter urban delivery truck is unveiled during a news conference in New York City, U.S. September 14, 2017. REUTERS/Brendan McDermid

BERLIN (Reuters) – Daimler (OTC:) shareholders voted in favour of spinning off the company’s truck division Daimler Truck Holdings AG in an extraordinary general meeting on Friday, with shares expected to start trading in December.

Daimler Trucks & Buses, which prior to the coronavirus pandemic turned over approximately 40 billion euros ($46.33 billion) in annual revenue with profits of around 2 billion, is set to become the world’s largest truckmaker after the spinoff is complete.

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