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Daimler Truck raises 600 million euros from Archion share sale
🇩🇪 Germany /Economy & Trade

Daimler Truck raises 600 million euros from Archion share sale

From Die Zeit · () German

Translated from German, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Daimler Truck has sold a portion of its shares in the truck manufacturer Archion, generating approximately 600 million euros.
  • The sale reduces Daimler Truck's stake in Archion to 25 percent, marking a strategic milestone for the company.
  • Toyota is also a shareholder in Archion, which consolidates Daimler Truck's Mitsubishi Fuso and Toyota's Hino subsidiaries under a joint holding company.

Daimler Truck has successfully raised around 600 million euros by selling a portion of its shares in the truck manufacturer Archion. The financial transaction was announced by Chief Financial Officer Eva Scherer from Leinfelden-Echterdingen, near Stuttgart.

This divestment reduces Daimler Truck's ownership in Archion to 25 percent. The company views this reduction as a significant strategic milestone. As of the end of June, Daimler Truck held slightly more than 40 percent of Archion's shares.

Archion also counts Toyota among its shareholders. The Japanese and German automotive giants had previously brought their respective Japanese subsidiaries, Mitsubishi Fuso and Hino, together under a joint holding company, which was then taken public. This strategic consolidation aims to streamline operations and potentially enhance market position for both entities.

With the reduction of the stake to 25 percent, we have achieved an important strategic milestone for Daimler Truck.

— Eva SchererDaimler Truck's Chief Financial Officer, announcing the financial results of the share sale.
DistantNews Editorial

Originally published by Die Zeit in German. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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