Volkswagen News Updates

Volkswagen AG’s heavy-truck division is exploring options for growth that could include acquisitions and an initial public offering as it seeks to reap the benefits of more independence within its rapidly reorganizing parent company.

Volkswagen AG CEO Martin Winterkorn, who during nearly a decade at the helm catapulted VW to the top spot in global sales, stepped down after admitting the automaker cheated on U.S. emissions tests.

Volkswagen AG and banker Friedrich von Metzler agreed to sell fleet-management company LeasePlan Corp. for 3.7 billion euros ($4 billion) to a group of investors including TDR Capital LLP.

Andreas Renschler officially took over as head of Volkswagen’s truck division on Feb. 1, and he will spearhead a growth effort that could include an acquisition in the United States.

Volkswagen AG secured enough backing to move forward with its $9.2 billion bid for Scania AB, removing the last major obstacle to a nearly decadelong effort to forge an integrated heavy-trucks unit.

Volkswagen AG extended the offer period for its $9.2 billion bid to buy out Swedish truck maker Scania AB after failing to reach the necessary 90% threshold of approvals.

Volkswagen AG’s $9.2 billion bid to buy the rest of heavy-truck maker Scania AB received a boost after Scania’s fourth-largest shareholder backed the deal.

A Swedish pension fund that holds a small amount of Sweden-based Scania has declined Volkswagen’s $9.2 billion offer to buy out the rest of the truck maker.

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.