Mexican Media Brands
Report: VW Ponders Advisors for Commercial Truck IPO
Volkswagen AG reportedly is poised to hire several banks to help its launch an initial public offering for its Traton commercial truck and bus unit.
#economics
Share
Volkswagen AG reportedly is poised to hire several banks to help its launch an initial public offering for its Traton commercial truck and bus unit.
Sources tell Bloomberg News that VW is likely to choose Deutsche Bank, Goldman Sachs and JPMorgan Chase as advisors. Bloomberg estimates Traton’s value at about €28.5 billion ($32.8 billion). The unit consists of Scania, MAN and VW’s own commercial truck operations.
VW is expected to launch the IPO in 2019, retaining a majority stake. Sources tell Bloomberg that the timing of the offering will be determined by market conditions.
Proceeds from the IPO would be used primarily to help Traton compete with rival Daimler AG, primarily through market expansion outside Europe.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.