This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ4T05P_L.jpg
Under the memorandum of understanding (MOU), the businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino Motors Ltd would be combined under a holding company, they said in a statement.
The shares of the new company are expected to be listed on the Prime Market of the Tokyo Stock Exchange.
The companies expect to sign a definitive agreement in the first quarter of 2024 and close the transaction by the end of next year, they said.
The heads of the four companies will hold a joint press conference in Tokyo at 4:30 p.m. (0730 GMT).
