February 1, 2018 / 9:55 AM / a year ago

Daimler spends low 3-digit mln euro sum on preparation for overhaul

FRANKFURT, Feb 1 (Reuters) - Daimler has spent a low triple-digit million euro amount to prepare a new corporate structure under which three business entities will get their own management responsibility, its finance chief said.

The truck and car maker is conducting due diligence to evaluate the economic, tax-related and organisational effects of the planned new structure, Chief Financial Officer Bodo Uebber told journalists at Daimler’s annual news conference on Thursday.

Under the new structure, Mercedes-Benz cars and vans will operate separately from Mercedes-Benz trucks and buses and Daimler Financial Services, he said.

Daimler has no plans to divest a major business, Uebber said. (Reporting by Edward Taylor; Editing by Maria Sheahan)

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