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10/25/18
Wolfsburg
Volkswagen Group News

Volkswagen subsidiary TRATON refines portfolio

  • Volkswagen AG acquires MAN Energy Solutions SE and all shares in Renk AG from MAN SE 
  • TRATON AG is thereby focusing exclusively on trucks, buses and digital transportation solutions 
  • Frank Witter, CFO: “In the light of our decision to prepare TRATON for a possible initial public offering (IPO), separating the Power Engineering business is a consistent step.”
  • Andreas Renschler, TRATON CEO: "With the sale, we are refining our portfolio and taking another step towards capital market readiness.”

In the context of achieving capital market readiness of TRATON AG, Volkswagen AG and TRATON AG with consent of their respective corporate bodies today have agreed on the sale of the 76 % stake of MAN SE in listed Renk Aktiengesellschaft as well as the 100 % stake of MAN SE in MAN Energy Solutions SE to a subsidiary of Volkswagen AG. The purchase price shall correspond to the expected IFRS equity book value of these participations as of 31 December 2018 in the range of approx. EUR 1.85 bn. to approx. EUR 2.05 bn. In addition, the indirect 100% participation of MAN SE in MAN Energy Solutions USA, Inc., will be sold and transferred to a subsidiary of Volkswagen AG for a purchase price of approx. USD 99 m. The transferred entities form MAN group’s business area Power Engineering. The sale is intended to be completed by year-end 2018. As a result of this transaction, TRATON AG will become the lead company of a pure truck & bus group.

Your media contacts

Dr. Marc Langendorf
Head of Corporate Communications
Tel. +49 (0) 5361 / 9-34474
Julia Kroeber-Riel
Head of Group Communications & Governmental Relations, TRATON AG
Tel. +49 152 58870900