BREAKING NEWS

BREAKING NEWS

Volkswagen truck unit to be ready for IPO by year-end

Now Reading:

Volkswagen truck unit to be ready for IPO by year-end

Volkswagen truck unit to be ready for IPO by year-end
@ Copyright :
Fabian Bimmer(Reuters)
Text size Aa Aa

FRANKFURT (Reuters) - Volkswagen's <VOWG.DE> truck unit Traton should by year-end be in shape for a potential stock market listing, Europe's largest carmaker said on Monday.

Traton's legal structure will be converted to a Societas Europaea (SE) and investment banks and legal advisors for a possible initial public offering will be mandated shortly, it added.

Volkswagen is targeting proceeds of more than 6 billion euros (5.33 billion pounds) with a potential listing of its truck and bus subsidiary, the division's chief executive had said earlier this year.

(Reporting by Arno Schuetze; Editing by Michelle Martin)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.