Reports: VW eyes move toward public offering by the German automaker's truck division

Volkswagen reportedly is moving toward an initial public offering or bond sale for the German automaker's truck division.

The company plans to change the division's legal structure, a move that could be the first step toward an initial public offering or a bond sale, Bloomberg News reported.

Discussions at a meeting last week included shifting the truck division's legal structure to a private limited company under German or European rules, the report said, citing unidentified people familiar with the issue.

VW plans to retain a majority stake in the division for now, and projects that an initial public offering could generate more than €10 billion, or $12.3 billion, German newspaper Handelsblatt reported, according to Reuters.

More: Ford, Chevy and Ram unveil new pickups: Why America loves them

More: 3 ways Volkswagen has changed and 3 ways it hasn't since emissions scandal

Although a decision could be made in the next few weeks, the discussions could drag on as the plan proceeds toward consideration by the company's supervisory and management boards, which must give approval, the reports said.

"Currently we are focusing on implementing our strategy and on driving the transition from a 'start-up company' into a mature corporation," VW's truck division said in a Saturday statement emailed to Bloomberg News.

"We keep all options open," the statement added.

Follow Paste BN reporter Kevin McCoy on Twitter: @kmccoynyc