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Volkswagen likely to price new preference shares 191 euros: source
June 3, 2014 / 7:40 PM / 3 years ago

Volkswagen likely to price new preference shares 191 euros: source

The Volkswagen logo is seen at the Frankfurt Motor Show (IAA) in this September 10, 2013 file photo. REUTERS/Pawel Kopczynski

FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) will likely issue new preference shares at 191 euros ($260) each in a transaction aimed at raising 2 billion euros ($2.72 billion), a person familiar with the matter said.

“The latest price guidance given to investors was 191 euros a share, books are closed,” the person said late on Tuesday.

Volkswagen earlier on Tuesday announced it would place preference shares in an accelerated book building with institutional investors.

The issue will help pay for VW’s 6.7 billion euro takeover offer to shareholders of Swedish truckmaker Scania SCVb.ST, VW said in a statement.

Reporting by Arno Schuetze, editing by Philipp Halstrick

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