Sources confirm that Volkswagen AG is close to announcing plans to take a stake of up to 20 percent in Suzuki Motor Corp., even as early as this week. Since the information has not been made public, the sources asked for their names to be withheld.

One source said that Volkswagen’s stake could “easily” rise to a controlling stake of more than one-third down the line. “This is the first step,” is how one source describes the process. At current prices, a 20 percent stake in Suzuki would be worth about 250 billion yen ($2.8 billion). Both companies have yet to issue statements.

[via reuters]

Tags: car news, Volkswagen, volkswagen suzuki stake, vw news, vw suzuki stake

This entry was posted on Wednesday, December 9th, 2009 at 4:27 am and is filed under 2009, 4wheels News, Automakers, Suzuki, Volkswagen, Worldwide, Year, Zone. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.