SUZUKI FAN

Suzuki aims to take more stake in Volkswagen

Suzuki aims to take more stake in Volkswagenas the European automaker looks for shareholders willing to
sell to Suzuki, the head of the Japanese firm said on Friday.

Volkswagen is looking for potential shareholders to sell their stakes to Japan’s Suzuki as the two automakers cement their partnership announced last month.

Suzuki Motor said Friday that Volkswagen completed its purchase of a 19.9% Suzuki stake for 222.48 billion yen ($2.5 billion), under the new alliance. Suzuki, in return, will invest up to half that amount in Volkswagen to solidify the broad alliance.

The CEO said Suzuki wants to make the investment as early as possible but that “there are few floating shares available,” as Porsche Automobil Holding SE owns a 51% stake in Volkswagen, the German state of Lower Saxony holds 21% and Qatar has 17%.

“We are asking to look for a shareholder who could sell the shares to us,” he said.

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