SINDELFINGEN/STUTTGART (dpa-AFX) - Carmaker Mercedes-Benz intends to cash in on part of its Daimler Truck shares this year. That is the clear intention of management, Chief Financial Officer Harald Wilhelm announced Thursday in Sindelfingen. Together with other share sales, Mercedes aims to raise around 2 billion euros this year, which will be used, among other things, to finance the dividend and the announced share buyback. Since the spin-off of Daimler Truck in December 2021, Mercedes directly holds around 30 percent of the DAX-listed company's shares, with a further approximately 5 percent of the former subsidiary placed in a pension fund for the Stuttgart-based group.
Mercedes shares recently fell by almost two percent due to investor disappointment over the 2026 outlook for the passenger car business. This reduced the stock's initially steeper drop. Daimler Truck shares also slipped following Mercedes' statements, losing 2.3 percent most recently. Mercedes had long indicated that selling shares in the commercial vehicle manufacturer is an option to bring in cash.
Daimler Truck is currently valued on the stock exchange at just under 34 billion euros. Mercedes' direct stake is therefore worth a good 10 billion euros. Wilhelm did not provide details on the targeted size of the share sale. The company plans to give more information in its annual report, due out in early March./men/mis
