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03/01/17
Braunschweig
Volkswagen Group News

Green light for strategic alliance between Volkswagen Truck & Bus and Navistar

  • Authorities approve Volkswagen Truck & Bus GmbH's stake in U.S. partner Navistar International Corporation
  • Volkswagen Truck & Bus pays USD 256 million for 16.6 percent of the company shares in Navistar
  • Purchasing joint venture Global Truck & Bus Procurement LLC established and launched
  • CEO Andreas Renschler and CFO Matthias Gründler members of Navistar's Board of Directors
  • Andreas Renschler: "The authorities have given our strategic alliance with Navistar the green light. Our newly-founded purchasing cooperation will begin work immediately. This puts both partners in a stronger position for the future."

The strategic alliance between Volkswagen Truck & Bus GmbH — which houses the MAN, Scania, Volkswagen Caminhões e Ônibus, and RIO brands — and U.S. commercial vehicle manufacturer Navistar International Corporation has been approved by the authorities responsible. Volkswagen Truck & Bus has acquired a stake of 16.6 percent in Navistar paying USD 15.76 per share. The purchase price is USD 256 million and takes the form of a capital increase.

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