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Daimler wants to retain 35 percent of Daimler Truck shareholder meeting in October | 07/30/21

STUTTGART (dpa-AFX) – Shareholders in automaker Daimler are set to approve the planned distribution of the truck division at an extraordinary general meeting on October 1. The Dax Group (DAX 30) announced on Friday in Stuttgart that the timetable issued by the Board of Directors and the Supervisory Board provides for this. The plan is to separate Daimler Truck, which currently belongs to the holding company Daimler AG, from the group and list separately on the stock exchange by the end of this year. Daimler wants to retain a 35 percent minority stake in the truck business. 5 percent of this will be brought into the Daimler pension fund. 65 percent of Daimler Truck shares are distributed to Daimler shareholders: for every two Daimler AG shares they receive one Daimler Truck leaf.

Occasional plans, long known, must be approved by investors before they can be implemented. According to previous statements, the bid should take place in December. The bottom line is that there will then be two independent companies: on the one hand Daimler Truck for the truck and bus company, and on the other hand Mercedes-Benz for the car and truck business. In this context, the name of the holding company Daimler AG will be changed to Mercedes-Benz Group AG on February 1, 2022. The former Daimler Mobility AG, under which the Stuttgart-based company combined its financial and mobility services, will be merged into the two companies.

Daimler strives for an investment grade credit rating for Daimler Truck. In addition, as already promised, the sub-display will be included in Dax as soon as possible. This will likely be the case in the first quarter of 2022. In any case, the leading indicator will be increased from 30 to 40 members this fall

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