BERLIN: Europe’s biggest carmaker, Germany’s Volkswagen, said it was making a ¤6.7-bn ($9.19bn) offer to grab the nearly 40 percent of Swedish truck manufacturer Scania it does not already own.
Volkswagen currently has nearly 90 percent of voting shares in Scania, and owns 62.6 percent of the company. It is telling shareholders of the outstanding stock it is willing to pay them 200 Swedish kronor ($36.84) per share, a premium of more than 50 percent that values the total offer at ¤6.7bn.
The buy is conditioned on Volkswagen ending up with at least 90 percent of Scania. If that happens, the German group will withdraw the listed Swedish firm from the Stockholm stock exchange.
Volkswagen already owns German truck- and bus-maker MAN. AFP
