At the virtual Extraordinary General Meeting, which took place on October 1, it was decided that Daimler Truck would separate from the parent company by the end of 2021, and Daimler AG would be renamed Mercedes-Benz Group AG from February 1, 2022.
The decision to rename Daimler AG to Mercedes-Benz Group AG was approved by a large majority of 99.89%. The new Mercedes-Benz Group AG company will include Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes EQ brands. The van division will also belong to Mercedes-Benz Group AG.
Following the separation of Daimler Truck by the end of 2021, Daimler shareholders will own 65% of the new Daimler Truck Holding AG, which will then be listed on the stock exchange as an independent company.
As consideration for the spin-off Daimler, shareholders will receive one additional share in Daimler Truck Holding AG for every two shares they hold in Daimler AG. Daimler will retain a minority interest of 35% in Daimler Truck Holding AG and plans to transfer 5% to Daimler Pension Trust e.V., a registered association according to German law.
Daimler assumes that the share of Daimler Truck Holding AG – after the listing in the Prime Standard of the Frankfurt Stock Exchange – will be included in the enlarged DAX share index with 40 members at the first possible date, probably in the first quarter of 2022.
Bernd Pischetsrieder, Chairman of the Supervisory Board of Daimler AG said:
“Our company is making the right decision at the right time to sustainably safeguard success. Daimler Truck and Mercedes-Benz will be able to master the transformation of the industry even more successfully with full entrepreneurial freedom and an independent management structure. By spinning off the commercial vehicle business, we aim to create value for our shareholders, increase our profitability and fully exploit our potential. ”
Ola Källenius, Chairman of the Boards of Management of Daimler AG and Mercedes-Benz AG: “Daimler is splitting into two strong and independent companies. With this decisive realignment into pure-play entities, we aim to create value for all stakeholders. Now is the right time to take this step: self-determined and from a position of strength. By unlocking the full potential of both companies, we are establishing two undisputed innovation leaders who will set the pace in the transformation of their industries. ”