The German car manufacturer, Porsche has purchased more than 50 percent shares of the biggest European manufactures, Volkswagen. Porsche plans to increase its stake in Volkswagen to more than 75% in 2009. As per company, it will increase the participation to group’s capital from 42% to 50.76% by buying new Volkswagen share.
Therefore, according to the Swedish law, Porsche is now obliged to make an offer for outstanding shares in the heavy truck manufacturer Scania, in which Volkswagen is the primary shareholder. But the company does not have any major interest and it will offer a minimum price for the Scania shares.