Volkswagen reaches 90.47 percent stake in Swedish truck maker, can complete purchase
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German automaker Volkswagen AG has enough shares to take complete ownership of Swedish truck-maker Scania and move ahead with integrating its commercial vehicle business.
VW said Tuesday that enough shareholders have accepted its 6.7 billion euro ($9.2 billion) offer to raise the company's stake in Scania to 90.47 percent.
That's enough to let VW buy out the rest of the shareholders and delist Scania — known as a squeeze-out. Volkswagen already held 62 percent majority stake in Scania and 89 percent of the voting rights.
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VW CEO Martin Winterkorn said the deal will let the company move ahead with further integrating Scania with truck-maker MAN and Volkswagen's own commercial vehicle business. Volkswagen took control of MAN last year.