Volkswagen to pay $267 million for Audi buyout

Volkswagen, which already holds 99.64% of Audi, announced the squeeze-out plans in February.
By : Reuters
| Updated on: 17 Jun 2020, 01:14 PM
A logo of the German car manufacturer Audi is pictured at a dealership in Kiev, Ukraine June 9, 2020. (REUTERS)
A logo of the German car manufacturer Audi is pictured at a dealership in Kiev, Ukraine June 9, 2020. (REUTERS)
A logo of the German car manufacturer Audi is pictured at a dealership in Kiev, Ukraine June 9, 2020. (REUTERS)
A logo of the German car manufacturer Audi is pictured at a dealership in Kiev, Ukraine June 9, 2020.

Volkswagen will pay a 48% premium to buy out the minority shareholders of premium division Audi, the latter said on Tuesday.

Volkswagen, which already holds 99.64% of Audi, announced the squeeze-out plans in February.

"Volkswagen AG announced and specified that it has set the cash settlement to be paid to the minority shareholders in return for the transfer of their shares at 1,551.53 euros per AUDI AG share," the carmaker said.

(Also read: Audi teases second generation RS7 Sportback, to be launched in India soon)

Similar Cars

Find More Cars
Volkswagen Polo (HT Auto photo)
Volkswagen Polo
999 cc | Petrol | Manual | 17.74 kmpl
₹5.83 - 10 Lakhs**Ex-showroom price
Volkswagen Vento (HT Auto photo)
Volkswagen Vento
999 cc | Petrol | Manual | 17.69 kmpl
₹10 - 14.1 Lakhs**Ex-showroom price
Volkswagen Taigun (HT Auto photo)
Volkswagen Taigun
999 cc | Petrol | Manual | 18.1 kmpl
₹10.49 - 17.5 Lakhs**Ex-showroom price
Volkswagen Virtus (HT Auto photo)
Volkswagen Virtus
999 cc | Petrol | Manual | 19.4 kmpl
₹11.21 - 17.91 Lakh**Ex-showroom price
Volkswagen T-roc (HT Auto photo)
Volkswagen T-roc
1498 cc | Petrol | Automatic (Dual Clutch) | 17.85 kmpl
₹21.35 Lakhs**Ex-showroom price
Volkswagen Tiguan (HT Auto photo)
Volkswagen Tiguan
1984 cc | Petrol | Automatic | 12.65 kmpl
₹32.79 Lakhs**Ex-showroom price

This compares with a share price of 1,050 euros a piece on Tuesday and amounts to a purchase price of 237 million euros ($267 million) for the 152,749 outstanding Audi shares, according to Refinitiv data.

The transfer will be passed at Audi's next annual general meeting, which the carmaker said is expected to take place in July or August.

First Published Date: 17 Jun 2020, 01:14 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city