Volkswagen aims to raise over $2 billion by floating at least 10% of its trucks unit Traton
FRANKFURT - Volkswagen aims to raise up to 1.9 billion euros by listing truck unit Traton, it said on Friday, scaling back earlier ambitions to list up to a quarter of the unit by opting to float a 10% stake.
“We are confident that we will then be able to ring the Stock Exchange bell before the end of June if the market stays reasonable.” It is also seeking to capitalize on the premium that truck stocks command over automakers to create an acquisition currency, having earlier shown interest in U.S.-based truck maker Navistar.
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