Volkswagen Receives Approval from Chinese Competition Authorities to Increase its Shareholding in MAN

Approval by the Chinese competition authorities marks the completion of all regulatory clearances necessary for settlement. Settlement of the mandatory offer and the associated majority acquisition in MAN SE is expected for November 9th, 2011. Following settlement of the mandatory offer, Volkswagen will hold a total of 55.90% of the voting rights and 53.71% of the share capital of MAN SE. Through a closer cooperation of MAN, Scania and Volkswagen in the fields of procurement, development and production substantial synergies can be realised.

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