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Volkswagen Sets IPO Price Range for Its Big-Truck Unit – The Wall Street Journal

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BERLIN—Volkswagen AG said on Thursday that it would offer up to 15% of its truck unit Traton AG in a range of €27 ($30.5) to €33 a share, making the initial public offering worth up to €1.9 billion.

The share offering, which values all of Traton at about €16.5 billion, marks a long-awaited step by Volkswagen to begin chipping off some of the company’s divisions no longer deemed necessary for maintaining the core business of building cars and offering new mobility services.

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