FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) expects its planned full takeover of Swedish truckmaker Scania SCVb.ST to add to its bottom line within a few years, its finance chief said.
“We are convinced that this strategic transaction will add substantial value to Volkswagen but it needs some time before it meaningfully impacts our finances ... But we expect it to be EPS (earnings per share) accretive within a few years,” Hans Dieter Poetsch told journalists during a conference call late on Friday.
Volkswagen earlier said it would submit a voluntary tender offer to shareholders of Scania worth 6.7 billion euros ($9.21 billion) as it aims to jump-start a stalled eight-year effort to forge Europe’s biggest truckmaker.
($1 = 0.7275 euros)
Reporting by Maria Sheahan