Partnership agreement between Suzuki and Volkswagen
09 December 2009
An agreement has been struck between Volkswagen and Suzuki.
A long-term partnership is being set up between two major brands of automobile.Volkswagen is buying 19.9 per cent of Suzuki's issued shares as part of the scheme, which is intended to meet the demand for greener and smaller cars.
It intends to buy the shares in January, though the deal is subject to permission from the necessary authorities.
Suzuki will then use as much as half of the money to invest in Volkswagen shares.
Volkswagen said that the deal would result in "a co-operative relationship" in which each brand would respect the independence of the other.
Recently, Volkswagen announced that it has taken a 49.9 per cent stake in Porsche as the two companies continue a scheme to integrate together.
Used Volkswagen drivers may enjoy advantages as the firm grows within the premium car sector.
The two companies signed the papers last month for what has been called a "comprehensive agreement".
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