April 2, 2014 10:25 AM, EDT

Volkswagen Agrees With Swedish Unions Over Scania Job Security

Casper Hedberg/Bloomberg

Volkswagen has agreed with Swedish labor unions to grant full job security to workers at Swedish truck maker Scania, which the German automotive group is seeking to acquire, Reuters reported April 2.

VW plans to buy out Scania’s minority shareholders of Scania for about $9.2 billion to jump-start its plan to merge its trucking operations.

Volkswagen, along with German truck maker MAN SE, already owns 62.6% of Scania's equity and 89.2 percent of the votes.