Volkswagen completes the acquisition of majority shareholding in MAN SE

Article by Christian Andrei, on November 10, 2011

The Volkswagen Group has acquired the majority shareholding in MAN SE, bringing the largest automaker in Europe closer to its goal of creating an integrated commercial vehicles group with Scania, Volkswagen and MAN. Volkswagen Aktiengesellschaft CEO Prof. Dr. Martin Winterkorn commented that the event marks the "birth of a new top player on the global truck market."

More specifically, the automaker now has 53.71% of the share capital and 55.90% of the voting rights of MAN SE. In May 2011, Volkswagen Aktiengesellschaft boosted its holdings in ordinary shares in MAN SE to 30.47% from 29.9%.

Because of the 30% threshold of the voting rights in MAN SE that the automaker will cross, German takeover regulations obligated Volkswagen to make a mandatory offer to all MAN SE shareholders to acquire their shares in MAN.

The shareholders had tendered 164,613 preference shares and 35,857,607 ordinary shares into the Volkswagen deal until June 29, 2011, which is the end of the acceptance period.

MAN, Scania and Volkswagen are convinced of the industrial logic of a closer cooperation. This latest development is anticipated to create yearly synergies of not less than EUR 200 million. In the beginning, these will involve procurement activities, then later on to a closer cooperation in research and development, and production in the medium term and long run.

Topics: vw, man

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

In Japan, Toyota stays in the limelight by always cooking up something new for its famous 86 sports car. A colour orange Toyota 86 performance edition is one that’s hard...
by - December 4, 2016
Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries