Volkswagen buys 19.9 percent share in Suzuki 

Motoring Staff - 10/December/2009

Tokyo, Japan - Volkswagen AG and Suzuki Motor Corporation have reached an agreement to establish a comprehensive partnership. The news comes as Volkswagen AG today announced that it would buy a 19.9 percent share in Suzuki Motor Corp.

The deal is reported to cost $2.8 billion, in which Suzuki plans to invest half of that into VW shares – securing a 2.5 voting share.

In terms of global presence and product diversity, the partnership marks an important step towards the future for both Volkswagen and Suzuki.

Volkswagen CEO Dr Martin Winterkorn said, "In a partnership with Suzuki, Volkswagen can take a big step forward in emerging markets."

“Two of the world’s leading car makers are joining forces and preparing to meet the growing challenges that lie ahead. Together we can maximise our opportunities for growth. We are proud to be cooperating with such an esteemed and valued partner.”

Both parties are focused on achieving synergies in the areas of rapidly growing emerging markets as well as in the development and manufacturing of innovative and environmentally friendly compact cars.

As demand continues to rise for smaller cars and for powertrains with higher fuel efficiency and lower CO2 output, Volkswagen and Suzuki will offer a compelling solution for customers seeking to lower their CO2 footprint while still enjoying an exciting range of cars.

The purchase is subject to the approval of the relevant authorities in both countries, with finalisation of the deal expected in January 2010.

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