The Traderszone Network

Published in TZ Latest News 30 August, 2015 by The TZ Newswire Staff

Suzuki Motor says it will buy back VW stake as court settles feud

Japan’s Suzuki Motor Corp said on Sunday it would buy back the 19.9 percent stake it sold to Volkswagen AG (VOWG_p.DE) after an international arbitration court ordered the German automaker to sell its holding. VW’s stake, acquired in January 2010 for 1.7 billion euros ($1.9 billion), was worth some $3.8 billion at Friday’s closing price. “It used to feel as if a small bone were stuck in my throat,” Suzuki Chairman and Chief Executive Osamu Suzuki told a news conference.