Industrial vehicle maker CNH Industrial has decided to split in two and list its...
“Exor will continue to be the shareholder of reference in both entities following completion of the spin-off process,” it said.
Under the plan, some high-margin industrial vehicle brands including heavy-duty quarry truck maker Astra and Iveco Defense Vehicles will be assigned to the agricultural and construction unit. “It looks as if Elkann is focusing on cash-in deals to help fund asset diversification at Exor,” said Roberto Lottici, asset manager at Milan-based Ifigest.
FILE PHOTO: An Iveco show truck is seen at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer/File Photo
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