Toyota, Daimler Truck Said to Sell Up to JPY300 Billion Shares in Archion

Toyota Motor (TYT.L) and Daimler Truck (DTG.F) are planning to sell portions of their stakes in Archion to satisfy listing requirements, Japanese publication The Nikkei reported Friday. The automakers intend to sell an estimated 900 million shares of the Tokyo bourse-listed truck manufacturer, representing a 30% stake. The sale, to be conducted through a public offering in July, will be valued between 200 billion and 300 billion yen, the report added. Toyota Motor and Daimler Truck did not immediately respond to requests for comment.