Suzuki to Sell Its 1.5% Stake in Volkswagen – WSJ

The agreement largely ends a failed tie-up between Volkswagen, one of the world’s biggest auto makers, and Suzuki, a second-tier Japanese auto maker, following four years of arbitration.

Sourced through Scoop.it from: www.wsj.com

 Suzuki Motor Corp. has agreed to sell its 1.5% stake in  Volkswagen  AG to Porsche Automobil Holding SE, the German auto maker’s biggest shareholder, Suzuki and Porsche SE said Saturday, without disclosing the transaction price.  Suzuki, which holds the stake in Volkswagen as a part of a failed partnership with the German auto maker, will transfer the shares to Porsche SE on Wednesday, the Japanese auto maker said in a statement. As a result of the sales, Suzuki will post ¥36.7 billion (US$304 million) in special profit, it said.

Porsche Automobil Holding SE manages assets held by the Porsche and Piech families—descendants of Ferdinand Porsche, the inventor of the Volkswagen Beetle—and controls more than 50% of Volkswagen’s voting stock.  The agreement largely ends a failed tie-up between Volkswagen, one of the world’s biggest auto makers, and Suzuki, a second-tier Japanese auto maker focusing on small cars, following four years of arbitration.

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