March 29, 2018 / 11:54 AM / in a year

Volkswagen supervisory board to formally decide on trucks IPO shortly -sources

FRANKFURT, March 29 (Reuters) - Volkswagen’s supervisory board is poised to formalise plans for a new corporate structure for its truck and buses division in the coming weeks and give its nod to continue preparations for a stock market flotation, people close to the matter said.

“The formal decision will likely be taken at the next supervisory board meeting and an IPO could follow as early as 2019,” one of the people said.

The formal process of appointing investment banks to help with the groundwork needed for the IPO would follow in the weeks thereafter, another person said.

The next regular supervisory board meeting is planned for May 2, one day ahead of the annual shareholder meeting.

A Volkswagen spokesman said that the company has been reviewing options for its trucks division. (Additional reporting by Alexander Huebner Editing by Maria Sheahan)

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