VW will initiate the procedure for the IPO of the pole trucks

BERLIN (Reuters) – Volkswagen (DE:VOWG_p) intends to modify the legal structure of its pole trucks this month, a first step towards its initial public offering (IPO), reports the Handelsblatt.

The next step would be to engage in investment banks, adds the financial newspaper, who writes that VW intends to remain a majority in the Volkswagen Truck & Bus division, which also encompasses the brands MAN and Scania, and that the IPO could bring the automaker more than 10 billion euros.

No final decision has been taken for this project that requires the approval of the executive board and the supervisory board as well as the consultation of the committee of business likely to be done in the coming weeks in view of a possible listing at the beginning of next year, ” says Handelsblatt.

A spokesperson for the pole trucks, VW has returned to the comments made previously by managers following which an IPO was one of the possible options.

(Victoria Bryan; Wilfrid Exbrayat for the French service)