Daimler Shareholders Approved New Group Structure
May 22 2019 - 3:09PM
Dow Jones News
By Michael Dabaie
Daimler AG (DAI.XE) said its shareholders approved a new group
structure, clearing the way for the auto maker to make its car and
van business and its truck and bus business two independent
entities through a spin-off.
Daimler is targeting the start of the new company structure for
Nov. 1. Under the new structure, Mercedes-Benz AG will be
responsible for the current Mercedes-Benz Cars and Mercedes-Benz
Vans divisions, while Daimler Trucks and Daimler Buses will be
joined in Daimler Truck AG.
Daimler Financial Services AG, which is already legally
independent, will be called Daimler Mobility AG starting July
24.
"The new structure will enhance our ability to act in a
dynamically growing competitive environment, including in terms of
raising capital," said Manfred Bischoff, chairman of Daimler's
supervisory board.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 22, 2019 14:54 ET (18:54 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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