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Daimler to invest 1.5 bln eur in truck business in wake of IPO

BERLIN, Feb 3 (Reuters) - Daimler will set up an innovation fund with a volume of 1.5 billion euros ($1.80 billion) for its Daimler Truck unit in the course of the planned spin-off of the business, it said on Wednesday.

“The Daimler truck business will have fully independent management, stand-alone corporate governance including an independent chairman of the supervisory board, and is targeted to qualify as a DAX company,” it also said. ($1 = 0.8318 euros) (Reporting by Kirsti Knolle Editing by Riham Alkousaa)

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