Volkswagen increases Scania shareholding
Volkswagen has gotten the approval from regulatory bodies to take up a majority voting stake in Swedish truck maker Scania in a deal that costs 2.8 billion euros, which will bring its shareholding in Scania up to 37.73% and voting rights up to 68.6%.
There has been a number of suitors for Scania before, but none of them went through such as Volvo in 1999 (a deal that was not approved by the EU because it would create a monopoly) and an attempted hostile takeover by MAN in 2006.
Volkswagen is also a leading shareholder in MAN, so we may see some sort of merger between MAN and Scania in the end after all, although they have mentioned before in the past that they would keep Scania as a separate premium brand.
July 20, 2008 @ 3:25 pm
Sooo, a monopoly in the process of making. Anyway bring those trucks here. Our roads are crowded with Japanese rebuilt trucks though cheap but safety might not be to the latest standard.