(MENAFN) Japan's Suzuki Motor Corp plans to repurchase the 19.9 percent stake it sold to Volkswagen AG after an international arbitration court settled a dispute between the carmakers over their unsuccessful partnership.
Volkswagen has acquired Suzuki's stakes for USD1.9 billion back in 2010, meanwhile both firms welcomed the court's ruling, which partially upheld Volkswagen's counterclaims of breach of contract.
VW declared in a statement it would not know the impact on its balance sheet or profits until it has coordinated the sale of the Suzuki shares, adding that it have already retained an investment bank.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.