GLADE MICHEL WIRTZ advises Daimler Truck Holding AG (Daimler Truck) in connection with a share buyback program which is expected to start in August 2023 and last up to two years. Daimler Truck intends to repurchase own shares worth up to EUR 2 billion (not including incidental acquisition costs) on the stock exchange and subsequently cancel them.

On 10 July 2023 the Board of Management of Daimler Truck decided on the implementation of the share buyback program with the approval of the Supervisory Board and subsequently announced it in an ad hoc notification. The share buyback program is based on the authorization of the Annual General Meeting of 5 November 2021, according to which the Board of Management, with the approval of the Supervisory Board, may acquire own shares up to a maximum of ten percent of the share capital until 31 October 2026.

The corporate team of GLADE MICHEL WIRTZ has been advising Daimler Truck Holding AG on corporate and capital markets law matters on an ongoing basis since the spin-off from Mercedes-Benz Group AG in December 2021 and also advised on Daimler Truck's Annual General Meeting in July this year, which was conducted as a virtual general meeting under a new regime of German stock corporation law.