<p>The German automaker is talking to potential advisers about the stake sale to institutional investors via an accelerated bookbuilding deal as soon as the next few weeks, the report added.</p>
The German automaker is speaking to potential advisers concerning the stake sale to institutional traders by way of an accelerated bookbuilding deal as quickly as the subsequent few weeks, the report added.

Volkswagen is exploring the sale of as a lot as 1 billion euros (USD 1.08 billion) value of inventory in its heavy truckmaking arm Traton SE, Bloomberg Information reported on Monday, citing folks acquainted with the matter.

The German automaker is speaking to potential advisers concerning the stake sale to institutional traders by way of an accelerated bookbuilding deal as quickly as the subsequent few weeks, the report added.

The potential 1 billion euros share sale represents a close to 6% stake in Traton, in accordance with market cap information from LSEG.

The dimensions of the providing might be between 500 million euros and 1 billion euros relying on market situations, in accordance with the report.

Volkswagen declined to remark.

The trucking sector is bracing for a bumpy 12 months with analysts flagging decrease demand in Europe and North America after post-pandemic demand helped the trade final 12 months.

Traton, which manufactures Scania, MAN, Navistar, and Volkswagen vehicles and buses, forecast a gradual 2024 return on gross sales after its core earnings in March virtually doubled on pent-up post-pandemic demand for business automobiles.

  • Printed On Might 14, 2024 at 04:11 PM IST

Be part of the group of 2M+ trade professionals

Subscribe to our publication to get newest insights & evaluation.

Obtain ETAuto App

  • Get Realtime updates
  • Save your favorite articles


Scan to obtain App


LEAVE A REPLY

Please enter your comment!
Please enter your name here