The spat between Suzuki and Volkswagen AG moved to London today (24 November) and the International Court of Arbitration where the Japanese automaker is seeking an order to compel VW to dispose of its Suzuki shares to Suzuki or Suzuki’s designated third party.
The move comes a week after Suzuki decided to end its alliance with Volkswagen. VW responded only to refute the allegations and insist it would retain its almost 20% stake.
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But Suzuki wants VW to sell that 19.9% stake, acquired in December 2009 as part of what was seen then a new and mutually beneficial alliance between the two automakers.
Suzuki had expected to harness the German firm’s environmental technologies and leadership in diesel engines while Volkswagen was aiming to take advantage of Suzuki’s small vehicle technologies and, in particular, the market-leading Maruti-Suzuki joint venture in India.
