2019 looks set to be a year of change in the background for the German-owned Scania and MAN brands.
The two truck and bus brands are owned by Volkswagen under the new Traton banner that now looks set to be floated on the Frankfurt stock exchange.
Reuters reports the truck and bus units, along with Volkswagen Trucks (not sold in Australia) are expected to be valued at around $47 billion Australian dollars.
The stock market listing could potentially be Germany’s biggest new share offering of the year.
But Traton Chief Executive Andreas Renschler has stopped short of confirming the market listing when probed on the issue by Reuters.
“We want to be the most profitable vehicle player and to have access to all global profit pools.”
While Volkswagen also declined to comment.
The news agency also quoting an unnamed insider that Volkswagen was expected to sell shares worth 5 billion to 6 billion euros ($8-$13 billion AUD).
“VW plans to build a global trucks business by integrating its MAN and Scania divisions to challenge Daimler and Volvo.” – Reuters
While they also speculate that the stock market listing could allow VW to build a war chest to deepen its relationship with Navistar, a U.S. truck maker in which it now owns a 16.85% stake in.
We will keep you updated as further info comes to hand.
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