Volkswagen Reduces Traton Stake, Raises €360 Million

Image Credit: Reuters

Volkswagen announced on Wednesday that it sold a 2.2% stake in Traton for 360 million euros ($393 million), equating to 32.75 euros per share, to improve the liquidity and trading activity of its commercial vehicle subsidiary. 

The sale, made to institutional investors through a private placement, will reduce Volkswagen’s direct ownership in Traton, which owns brands like Scania, MAN, and Navistar, to 87.5%. Volkswagen emphasized that it remains a "committed and responsible shareholder."

Traton shares ended Tuesday at 35.60 euros, reflecting a year-to-date gain of over 27%. 

($1 = 0.9152 euros)

Paraphrasing text from "Reuters" all rights reserved by the original author