UPDATE 1-VW board set to give green light for trucks IPO - sources [Reuters (UK)]
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Source: Reuters
Volkswagen board set to give green light for trucks IPO: sources | Reuters 4 Min Read FRANKFURT (Reuters) - Volkswagen’s ( VOWG_p.DE ) supervisory board could give a green light for preparations to float its trucks and buses division as soon as May 2, people close the matter told Reuters. Creating a new corporate structure for the division would be a sign the German automaker is making progress on its pledge to become a more focused and nimble company in the wake of its 2015 diesel emissions crisis, after a failed attempt to sell motorcycle brand Ducati last year. “The formal decision will likely be taken at the next supervisory board meeting and an IPO (initial public offering) could follow as early as 2019,” one of the people said. The next regular supervisory board meeting is planned for May 2, one day ahead of the annual shareholder meeting. The formal process of appointing investment banks to help with the groundwork for the IPO would follow in the weeks thereafter, another per
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