Daimler Truck shares stronger before the market: Daimler Truck and Toyota plan to merge Fuso and Hino

As the DAX group announced, the business activities of the Daimler Truck Group company Mitsubishi Fuso Truck and Bus and the Toyota Motor subsidiary Hino Motors are to be bundled in a holding company with equal rights in the planned transaction. This new company will be listed on the Prime Market of the Tokyo Stock Exchange and will have access to Daimler Trucks technology for heavy commercial vehicles.

The shares of Daimler Truck and Toyota Motor in the new company are to be equal, with a significant proportion being held by external shareholders. The details of the transaction and the corporate structure of the new company, including the ownership structure and the scope of the combined businesses, are yet to be finalized in legally binding definitive agreements based on valuation policies agreed by the parties.

Daimler Truck assumes that the holding company will not be fully consolidated in the annual financial statements. The risk associated with misconduct by Hino in engine certification shall remain with Hino. In addition, Daimler Truck and Toyota have agreed to explore the potential for global collaboration to accelerate the development and production of zero-emission technologies, including in the hydrogen space.

Through the merger, Fuso and Hino are expected to create synergies and improve the competitiveness of Japanese truck manufacturers to strengthen the foundation of the Japanese and Asian automotive industries, Daimler Truck said. The development of advanced technologies should be accelerated.

“The planned new company will be a major player in Southeast Asia and an important partner in the Daimler truck family,” said Martin Daum, CEO of Daimler Truck. “This collaboration between our four companies is a partnership to shape the future of commercial vehicles in Japan and the future of mobility society,” added Toyota CEO Koji Sato.

Daimler Truck and Toyota aim to sign definitive contracts in the first quarter of 2024. The transaction should be completed by the end of next year.

The Daimler Truck share temporarily gained 1.47 percent to 29.09 euros in pre-market Tradegate trading. Toyota shares ultimately rose 0.60 percent to 1,940 yen in Tokyo.

FRANKFURT (Dow Jones)

Selected leverage products on Daimler TruckWith knock-outs, speculative investors can participate disproportionately in price movements. Simply select the desired lever and we will show you suitable open-end products on Daimler Trucks

Leverage must be between 2 and 20

No data

More news about Daimler Trucks

Image sources: Daimler Truck AG, FotograFFF / Shutterstock.com

ttn-28