According to the German magazine Der Spiegel, Volkswagen (VW) might take over Japan’s Suzuki. The magazine cited the statement of an unnamed senior manager at VW iterating the same. Volkswagen when questioned refused to comment on the matter.
Suzuki on September 18, 2011, stated the company was in favor of ending its two-year old alliance with Volkswagen, after it was accused of violating the pact. Volkswagen stated Suzuki had violated the pact by agreeing a diesel engine supply from Italy’s Fiat.
Suzuki Chairman and CEO, Mr. Osamu Suzuki has made an offer to Volkswagen to buy its 19.9 percent stake in Suzuki with cash, but as of now Volkswagen has declined the offer. Volkswagen has tried amending its relationship with Suzuki by stating it is very happy with its investment in Suzuki.
According to the magazine Spiegel, without Suzuki’s consent, VW cannot raise its stake in Suzuki as long as the alliance between the two companies is intact. But if their partnership is declared null, then VW would be free to raise its stake in the company.
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