MOTOR INDUSTRY
Volkswagen trucks division considers stock listing of unit
Frankfurt — Volkswagen’s trucks chief wants to take his division to "the next level" with the German motor vehicle manufacturer considering a stock listing to catapult the $37bn unit into the blue-chip ranks of Europe’s largest economy. "An initial public offering is just one of the options, another is that we could issue our own bonds," Andreas Renschler, who oversees the Scania and MAN brands, said. "It’s ultimately a decision for our shareholders." The world’s largest motor vehicle maker unveiled a sweeping overhaul on Thursday that included naming Herbert Diess as its new CEO. In the deepest revamp since the diesel-emissions scandal, key stakeholders also agreed to ready the trucks unit for potential access to capital markets. Changing the unit’s legal status into a stock corporation "will help us avoid wasting time once we have a decision by our shareholders", Renschler said. Economies of scale An IPO of VW trucks would mark the next big transaction in Germany since Siemens He...
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