STOCKHOLM, Feb 24 (Reuters) - Swedish self-driving truck startup Einride said on Tuesday it had spun off its design business and sold a majority stake in the new company to Navisalma Design. "Einride
Einride Separates Design Unit, Sells Majority Stake to Navisalma
Deal Overview and Financial Context
STOCKHOLM, Feb 24 (Reuters) - Swedish self-driving truck startup Einride said on Tuesday it had spun off its design business and sold a majority stake in the new company to Navisalma Design.
Ownership Structure and Retained Stake
"Einride will retain a minority ownership stake in the company," it said in a statement.
About Navisalma Design and Founder
Navisalma Design is a newly formed design studio founded by Einride co-founder Linnea Kornehed, it said.
Merger with Legato Merger Corp III
U.S. Listing Plans via SPAC
An Einride spokesperson said the divestment would not impact the firm's plan to go public in the U.S. through a merger with blank-check firm Legato Merger Corp III in a deal valuing the company at $1.8 billion.
Reporting and Editing Credits
(Reporting by Anna Ringstrom and Marie Mannes, editing by Terje Solsvik)
