Suzuki has said that the lengthy arbitration proceedings concerning its long-running dispute with Volkswagen have been completed and that a ruling is now expected.
The arbitrators will rule on Suzuki’s effort to force VW to sell back a 19.9% stake.
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Suzuki President Osamu Suzuki confirmed that the proceedings are now over at a meeting of shareholders and admitted that the company is “embarrassed” by the fact that the arbitration process has taken years (it began in 2011).
The dispute between the two OEMs stems from the breakdown of a deal in 2009 under which the two would collaborate in some areas alongside cross-shareholdings. However, the deal broke down acrimoniously with both sides accusing each other of breaching the agreement.
VW held on to its stock in Suzuki, leaving Suzuki outside of potential collaboration or M&A discussions with other OEMs while the dispute remained in arbitration.
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By GlobalData
