FRANKFURT - Volkswagen shares rose on Tuesday after the group said it would press ahead with listing its Traton trucks unit, in what is set to be Germany’s biggest share offering so far this year.
In a surprise move late on Monday, Volkswagen said its supervisory and management boards had agreed to resume preparations to list Traton before the summer break, subject to market conditions, which it previously blamed for the postponement. Volkswagen said previously it could list up to 25% of Traton, which includes the MAN, Scania and Volkswagen trucks businesses, to raise up to 6 billion euros .
Volkswagen also said it was looking into options for its MAN Energy Solutions business, which makes large diesel engines for ships and power generators, as well as transmissions maker Renk, including joint ventures, partnerships, a full or partial sale. Osterloh, in his letter, said talks between labor representatives and management on Volkswagen’s restructuring plans were going well, adding that he believed a conclusion could be reached in May.
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