April 13, 2018 / 11:22 AM / 9 days ago

VW trucks IPO to bring in up to 7 billion euros - Spiegel

FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) hopes to raise 6 billion to 7 billion euros ($7.4-$8.6 billion) through a listing of its trucks and buses division, German magazine Der Spiegel reported, not citing where it obtained the information.

General view of the power station of the Volkswagen plant in Wolfsburg, Germany, April 12, 2018. REUTERS/Fabian Bimmer

Volkswagen aims to sell up to 25 percent of the business as part of the listing and keep a majority, the magazine said. Sources told Reuters earlier this week that Volkswagen is planning to list the division in the first quarter of next year.

    Volkswagen was not immediately available for comment.

    ($1 = 0.8121 euros)

    Reporting by Christoph Steitz and Andreas Cremer; Editing by Victoria Bryan

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