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Volkswagen says is open to listing trucks business
February 8, 2016 / 9:50 AM / in 2 years

Volkswagen says is open to listing trucks business

FRANKFURT (Reuters) - Volkswagen AG’s (VOWG_p.DE) trucks business may pursue acquisitions or even a public listing, the company said on Monday, only days after the parent company was forced to delay publishing earnings in the wake of a diesel emissions scandal.

A worker wearing a protective mask stands next to a Volkswagen logo at a dealership in Madrid, Spain, December 16, 2015. REUTERS/Sergio Perez

“We’re keeping all options open in regards to expanding overseas, about a possible takeover as well as about a stock market listing,” a spokeswoman for Volkswagen trucks said on Monday, declining to comment on whether a full or partial separation from Volkswagen Group was a possibility.

Volkswagen hired former Daimler (DAIGn.DE) manager Andreas Renschler in February 2014 to build a global trucks business by integrating the heavy goods vehicle operations of its Scania SVKBF.PK and MAN (MANG.DE) divisions, and combining these with Volkswagen commercial vehicles.

Since then the Wolfsburg, Germany-based car and trucks maker has been caught cheating exhaust-pollution tests, forcing it to postpone the publication of its full-year earnings and delay its annual shareholders’ meeting as it struggles to put an exact price on the cost of cleaning up the scandal.

Last year, Manager Magazin, citing company sources, reported that Volkswagen may restructure its trucks business so that it could be spun off from the main group.

Bloomberg news was first to quote Volkswagen saying the car and truck maker was open to a listing of its trucks business.

Reporting by Edward Taylor and Jan Schwartz; Editing by Georgina Prodhan

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