Volkswagen AG is new MAN SE majority shareholder

Intensified cooperation between MAN, Volkswagen and Scania is to result in synergy effects of at least 200 million Euros per year:

Volkswagen AG has completed the acquisition of a majority stake in MAN SE (Munich). The last remaining condition of the public mandatory offer by the Volkswagen AG to the MAN SE shareholders was met with the clearance of the transaction by the Chinese antitrust authorities on 3 November 2011. Volkswagen now holds a total of 55,90 per cent of the voting rights and 53,71 per cent of the MAN nominal capital. This has paved the way for a close cooperation between MAN, Volkswagen and Scania.

An extended cooperation between MAN, Volkswagen and Scania is to promote a growth course of the Munich based vehicle and machine construction specialist and continue to expand its position as one of the globally leading transport-related engineering companies. Together the companies now make up one of the leading global providers of commercial vehicles. This cooperation will not lead to cutbacks. MAN will continue to be based in Munich. All branches operated by the company will remain as they are and the brand name MAN is to keep its independence.

Quelle: LogEastics
Portal: www.logistik-express.com