Volkswagen is looking to take full control of MAN by concluding a domination and profit and loss transfer agreement with the truck manufacturer.
Although no timetable for the conclusion of the agreement has been given, it is a planned and expected move by Volkswagen which already holds 75.03% of the voting rights in MAN. Discussion between the two companies will start immediately over the agreement which will give VW a full spectrum of products from car-derived vans to three-axle artics.
The company said: “Volkswagen has always stressed its intention to actively pursue the creation of an integrated commercial vehicles group and that it would keep all of its options open in this regard.”
VW said MAN wold retain it’s brand-specific characteristics and business areas within the group, and added that it was committed to the MAN workforce.
The move would mesh together significant players in the cv sector. VW acquired 55.9% of the voting rights in MAN in July 2011, increasing the interest in April and June this year. VW also has a 71% voting stake in Scania, while MAN holds 17% of the rights, so full control of MAN should allow for significant cost savings amongst the brands.