Volkswagen AG took over the majority shares of Swedish truck-maker Scania AB by buying its shares at 200 Swedish kronor a share in cash. This was achieved by talking to Investor AG and Wallenberg Foundation, which controls the truck company, for the sale.
Investor AG is supposed to be richer by 17.6 billion kronor from this deal while Wallenberg profits by 9.3 billion kronor. Buying out the Stockholm-based investor and the Wallenberg family has paved way for a three-way merger between Scania, Volkswagen’s commercial based operations and MAN, hence making the truck company the largest in Europe, leaving behind Volvo AB and Daimler AG