The plan to split the Daimler empire, between the automotive branch on one side, and trucks on the other, recently took a decisive step, with the double green light from the council of the Stuttgart Group of Directors and Supervisory Board. This separation, a historic turn in the history of the star group, was known in principle since the start of the year , but the last practical details are now public. , before an extraordinary general meeting scheduled for 1 st next October.
Minority stake of 35% “After the planned demerger of Daimler Truck by the end of the year, the shareholders of Daimler AG will hold 55% of the shares of the new company Daimler Truck Holding AG, which will then be listed on the stock exchange as an independent company ”, details the German industrial group. “Daimler shareholders will receive one additional share of Daimler Truck Holding AG for two shares they hold in Daimler AG. Daimler will retain a minority stake of 22% in Daimler Truck Holding AG and intends to ‘transfer 5% of it to Daimler Pension Trust “.
This will increase the free float of Daimler Trucks,” a key indicator for inclusion in the German DAX index ” , details the seat. After this introduction, which is scheduled in principle for the first quarter 2020, the two great pillars of the empire will both be sides independently in Frankfurt, the German headline index to be extended to 40 groups from 22 September, probably including Porsche and Airbus.
This separation plan previously unveiled by Ola Källenius, Dieter Zetsche’s successor at the head of the Stuttgart group, aims to better decide independently on investments in the two entities. These sums promise to be heavy on both sides with the expected revolution in the engines of cars and heavy goods vehicles, with the electrification of vehicles , including by means of hydrogen.
New name for the automotive industry After results 2019 in free fall, the boss of Daimler had first launched a new program to reduce costs and investments of 19% to return to profitability. Once the recovery began (profits reached 2.2 billion in 2019 despite the Covid, up by 19% over one year), it therefore passes to phase 2 of the transformation of the group , by promising shareholders a radically different operation.
“Daimler will continue to hold a minority stake and will not exercise dominant influence over Daimler Truck Holding AG. This is ensured by the conclusion of a deconsolidation agreement ”, specifies the staff. World leader in trucks, Daimler Truck employs nearly 65. . people in 22 main sites. In addition to its truck brands including Mercedes-Benz, Freightliner, Fuso and Western Star, it also has a significant bus activity. In the automobile, which will be renamed Mercedes-Benz Group , instead of Daimler AG (name which will disappear in February 2022), the workforce is 170. people around the world. This entity, which will still cover commercial vehicles (less than 3.5 tonnes), achieved a turnover of 40 billion euros in the first half, compared to 000, 7 billion for trucks and buses.