On January 9, Volkswagen announced that it will sign the Domination and Profit and Loss Transfer Agreement (DPLTA) with Man Trucks to achieve full control over the latter.
Currently, Volkswagen holds a voting stake of 75.03% of Man Trucks. If the controlling interest and income statement transfer agreement is signed, Man Trucks will be fully controlled from strategic and financial perspectives. VW said that this is a key step in forming an integrated commercial vehicle group.
Volkswagen is currently seeking to integrate Scandinavia's Swedish truck manufacturer's Scania business with its holdings to save at least €200 million (US$263 million) in procurement, production and R&D expenses each year. Volkswagen currently owns 71.8% of the voting rights in Scania and 49.3% in share capital.
By the beginning of 2012, Volkswagen had owned 55.9% of the voting shares of Man Trucks and 53.71% of its share capital. After holding in April, it held 73% of the ordinary shares of MAN Trucks and 71.08% of its share capital. On June 6, Volkswagen increased Mann’s equity again, making the stock ratio more than 75%.
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