Report: Daimler May Split into Three Units

Daimler AG is developing a new structure in which the company would be divided into three entities controlled by a holding company, says Germany’s Manager Magazin.

The move would create a trio of Mercedes-Benz units: cars and vans, trucks and buses, and financial services. Manager says new-mobility products, such as ride-hailing services, would become part of the financial unit.

The proposed structure is being developed by CEO Dieter Zetsche and Chief Financial Officer Bodo Uebber. Manager, noting that Zetsche is nearing retirement, says Uebber is likely to become head of the holding company.

The scheme is intended to unlock value for each of the business areas. The plan may be ready to implement around the company’s annual meeting in April 2019, according to Manager.

Daimler said last month it might split off parts of its operations into separate legal entities. Reuters says doing so could enable partial listings for the units, thereby creating a new way to raise funds.