Volkswagen AG will purchase the remaining 0.36 percent of Audi owned by minority shareholders
The move will make VW the sole owner of Audi
Buy out will cost VW AG 237 million euros
Volkswagen will consolidate its holding on Audi by buying out the remaining minority shareholders. The move is expected to be approved at Audi’s next annual general meeting.
“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,” the carmaker said.
The last 0.36 percent of Audi shares owned by minority shareholders represents 152,749 outstanding shares. They will be purchased at a price 1,551.53 euros, a 551.53 euro premium over the current 1,050 euro share price. The purchase price represents a 237 million euros investment for Volkswagen.
Audi was first purchased by Volkswagen in 1965 when it was still Auto Union. Volkswagen also owns parts or all of Lamborghini, Skoda, Porsche, Bentley, SEAT, and Ducatti.
