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Daimler shareholders vote in favour of truck division spinoff By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: The new Daimler AG, USO battery-powered, urban delivery vehicle eCanter was revealed at New York City’s news conference, September 14, 2017. REUTERS/Brendan McDermid

BERLIN, (Reuters) – Daimler (OTC 🙂 shareholders voted to spin off Daimler Truck Holdings AG’s truck division in an extraordinary general assembly on Friday. Stocks will begin 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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