DTAG to delink from Daimler AG

Daimler Trucks AG (DTAG) will no longer be a part of Daimler AG. It will be spun off into two separate entities. The Competition Commission of India (CCI) has approved the internal corporate reorganisation of the Daimler AG. The group company has sought approval through the green channel route, an automatic approval system. The approval is known to have been received following a notice filed for the combination by the parties concerned. The truck and bus business is expected to be spun off to become a publicly traded company. As per the notice, Daimler AG will be a minority stakeholder with the majority share stake to be publicly listed. The filing highlights the lack of overlap between the businesses of the parties in India, which in effect is unlikely to impact the company’s competitiveness in the relevant market.