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VW Group To Pay $267 Million For Audi Buyout
VW Group, which already holds 99.64 percent of Audi, will pay $267 Million to buyout the remaining 0.36 percent.
In addition to owning Audi, the Volkswagen Group also controls the VW; Bentley; Bugatti; Lamborghini; Porsche, SEAT; Skoda; MAN; Scania; Volkswagen Commercial Vehicles and Ducati.
VW group to pay $267 million for Audi buyout
German automaker Audi on Tuesday said Volkswagen Group will pay a 48 percent premium to buy out the minority shareholders of premium division Audi.
VW Group, which already holds 99.64 percent of Audi, announced the plans in February to procure the remaining 0.36 percent of Audi it didn’t own.
“Volkswagen AG announced and specified that it has set the cash settlement to be paid to the minority shareholders in return for the transfer of their shares at 1,551.53 euros per Audi AG share,”
According to Refinitiv data, this compares with a share price of 1,050 euros a piece on Tuesday and amounts to a purchase price of 237 million euros ($267 million) for the 152,749 outstanding Audi shares.
The transfer is expected to be passed at Audi’s next annual general meeting which will take place in July or August.
The Volkswagen group in 2016 became the world’s largest automaker by sales, overtaking Toyota. It kept this title in 2017, 2018 and 2019 selling 10.9 million vehicles.
In addition to owning Audi, the Volkswagen Group also controls auto-giants like the Volkswagen; Bentley, Bugatti; Lamborghini; Porsche; SEAT; Skoda; MAN; Scania; Volkswagen Commercial Vehicles and Ducati.
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