Volkswagen Receives Approval from EU Commission to Increase Holding in MAN
Important milestone towards an integrated commercial vehicles group
The Volkswagen Group has reached a further important milestone on its way towards an integrated commercial vehicles group consisting of MAN, Scania and Volkswagen. Volkswagen AG has received approval from the EU Commission to increase its holding in MAN SE in line with the mandatory offer. This was announced by Europe’s largest automaker in Wolfsburg on Monday.
The Volkswagen Group assumes that the remaining outstanding completion conditions will be fulfilled during the coming weeks.
Following receipt of all the necessary regulatory clearances and subsequent settlement of the mandatory offer Volkswagen will hold a total 55.90 percent of the voting rights and 53.71 percent of the share capital of MAN SE. Substantial synergies can be realised through a closer cooperation of MAN, Scania and Volkswagen in the fields of procurement, development and production.
