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Automotive: Daimler wants to rename itself Mercedes-Benz, from the name of its flagship brand

2021-02-03T16:35:06.499Z


The German manufacturer also announced Tuesday its intention to place the majority of its heavy-duty branch on the stock market.


The German manufacturer Daimler announced on Tuesday its intention to place the majority of its heavy-duty branch on the stock market, marking the refocusing of the manufacturer of Mercedes-Benz on the automotive sector.

Read also: With the EQA, Mercedes makes the electric more accessible

The management of Daimler has "

decided today, with the approval of the supervisory board, to evaluate a spin-off

", that is to say the split of the business of trucks and buses and to "

start the preparations for a quotation

" of the “

Truck and Bus

entity

, according to a press release.

The first listing on the Frankfurt Stock Exchange is targeted "

by the end of 2021

"

Refocusing strategic activity

Symbol of the refocusing that is taking place within the Stuttgart group (southwest), it has also announced that it wants to rename itself "

Mercedes-Benz

", from the name of its flagship brand producing high-end limousines.

The Stock Exchange warmly welcomed these announcements Tuesday, the title winning at 3:45 pm GMT 8.32% to 64.21 euros, in a Dax advancing 0.84%.

Daimler's truck and bus division alone could be worth around 29 billion euros by applying the same calculation methods as for competitor Volvo AB and provided that the overall profitability improves significantly, analysts say. of Deutsche Bank cited by the Bloomberg agency.

Other analysts at Sanford C. Bernstein estimated Wednesday that the entity could be worth 35 billion euros.

This would make the

independent

Truck and Bus

division

a candidate to quickly enter the Dax index of the biggest stocks on the Frankfurt Stock Exchange, alongside Daimler and other automotive giants like VW and BMW.

Read also: The German car market falls back by more than 30% in January

The Stuttgart group has taken this strategic turn in order to "

fully exploit the potential of its activities which will be driven by software and will be emission-free

", explains the manufacturer of the luxurious S-Class in a press release. "

It's a moment history for Daimler and the start of a major restructuring of the company

”, commented Ola Källenius, the Swedish boss of the group since May 2019.

Source: lefigaro

All business articles on 2021-02-03

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