By William Boston 

BERLIN -- Daimler AG said it will split its Mercedes-Benz car division and its Daimler Trucks division into two separate companies, aiming to spin off the trucks business to shareholders -- a move that highlights how conventional auto makers are under pressure to boost their stock-market value.

Daimler said Wednesday it would spin off a "significant majority" of shares in Daimler Trucks to existing shareholders by the end of the year and would eventually rename the car-making business Mercedes-Benz.

(More to Come)

(END) Dow Jones Newswires

February 03, 2021 11:32 ET (16:32 GMT)