VW mulls separate listing of trucks business - Manager Magazin
FRANKFURT (Reuters) - Volkswagen AG may restructure its trucks business so that it could be spun off from the main group, and establish a separate headquarters for it in Frankfurt, German monthly Manager Magazin said, citing company sources.
Manager Magazin said the trucks holding company would be structured so it could be listed on the stock exchange in the event that parent company Volkswagen wanted to raise cash.
A spokesman for Volkswagen said the company declined to comment on speculation.
Volkswagen has hired former Daimler manager Andreas Renschler to integrate its different trucks businesses which include Swedish truck maker Scania and German MAN SE as well as its own VW-branded light commercial-vehicle business.
Renschler will start his job on Feb. 1, and wants to have 50 staff in Frankfurt to run the business, Manager Magazin said.
Volkswagen's main business is in passenger cars. Aside from selling VW-branded cars, the group owns the Bentley, Bugatti, Audi, Skoda, Seat and Lamborghini brands.
(Reporting by Jan Schwartz, writing by Edward Taylor, editing by Jane Merriman)
