Volkswagen LogoAccording to Automotive News Europe sources, Volkswagen AG will officially announce their take over of Italdesign Giugiaro S.p.A on Tuesday (European time, not our time) as mentioned in previous articles. If things go through, Volkswagen will be buying up a huge 90 percent stake in the design company that had a hand in cars such as the original Lotus Esprit. The Giugiaro family will retain 10 percent of the family business that surrounds Italdesign co-founder Giorgetto Giugiaro and his son Fabrizio, 45, who heads the design and model division. The move will further help in VW’s plans in strengthening its global brand.

Source