Volkswagen says it now controls 98.19% of shares in Scania and 99.02% of voting rights in the Swedish heavy truck maker.
VW said earlier this month that it had crossed a crucial 90% equity threshold after minority stockholders accepted its SEK 200 per share offer.
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In March Scania’s board said that VW’s offer was too low and rejected its bid. VW Group proceeded to buy up shares anyway.
Volkswagen has said that Scania will now be fully integrated into VW Group.
“We are pleased that Scania shareholders accepted our highly attractive offer to the necessary extent. This is good news for the Volkswagen Group as a whole, as we can now take the next logical and consistent step in our strategy to strengthen the operational integration between Scania, MAN and Volkswagen Commercial Vehicles to create a leading commercial vehicles group,” said Martin Winterkorn, Chairman of the Board of Management of Volkswagen.
