Holding in Volkswagen to be increased to over 50 per cent



    
    Porsche's majority in Volkswagen will provide indirect control over
    Scania
    

    STUTTGART, Germany, Jan. 5 /CNW/ - On this Monday, Porsche Automobil
Holding SE, Stuttgart, purchased further ordinary shares in Volkswagen AG,
Wolfsburg, and will increase its holding to 50.76 per cent of all ordinary
voting shares in Volkswagen. As a result of passing the threshold of 50 per
cent Porsche will acquire indirect control over Scania AB, Sodertalje, and is
required by Swedish law to launch a mandatory offer for the truck
manufacturer. The Stuttgart-domiciled company is not bound by pre-acquisition
prices and is only obliged to offer the minimum price prescribed by law. The
minimum price will be calculated on the basis of the volume weighted average
stock exchange price of the Scania shares during the 20 trading days prior to
publication of the acquisition of the majority in Volkswagen. Porsche points
out that it has no strategic interest in Scania and is not interested in
acquiring Scania shares.





For further information:

For further information: Laurance Yap, (905) 219-2195,
laurance.yap@porsche.ca

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