FILE PHOTO: Visitors stand at the booth of Volkswagen’s truck unit Traton Group, former Volkswagen Truck & Bus AG, in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer/File Photo
STOCKHOLM (Reuters) – Volkswagen is in talks with Swedish institutional investors AMF, AP Fund 1 and 4, Investor AB and Folksam about being cornerstone shareholders in the dual listing of its trucks unit Traton in Stockholm and Frankfurt, people familiar with the talks said.
The discussions could result in more than one cornerstone investor being brought on board and are for each investor to take a 150 million euro to 300 million euro stake, these sources told Reuters, declining to be named as talks were confidential.
Reuters had earlier reported that VW expects to sell shares worth 5 billion-6 billion euros ($5.7-$6.9 billion) in an April listing that could value Traton about 20 billion-25 billion euros.
AMF, AP Fund 1 and 4, Investor AB, Folksam, Volkswagen and Traton did not immediately return requests for comment.
Reporting by Esha Vaish in Stockholm; Editing by Rachel Armstrong