Toyota, Daimler truck units to combine operations under holding company

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

TOKYO : Daimler Truck Holding AG and Toyota Motor Corp said on Tuesday they had entered a non-binding agreement to combine the businesses of their truck units in Japan.Under the memorandum of understanding (MOU), the businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino

TOKYO : Daimler Truck Holding AG and Toyota Motor Corp said on Tuesday they had entered a non-binding agreement to combine the businesses of their truck units in Japan.

Under the memorandum of understanding , the businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino Motors Ltd would be combined under a holding company, they said in a statement. The shares of the new company are expected to be listed on the Prime Market of the Tokyo Stock Exchange.

The companies expect to sign a definitive agreement in the first quarter of 2024 and close the transaction by the end of next year, they said.Source: Reuters

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines