April 2, 2014 / 11:25 AM / 3 years ago

VW says agrees with Swedish unions over job security at Scania

BERLIN (Reuters) - Volkswagen agreed with Swedish labor unions to grant full job security to workers at truckmaker Scania, which the German automotive group is seeking to acquire.

VW plans to buy out minority shareholders of Scania for 6.7 billion euros ($9.2 billion) to jump-start a stalled eight-year effort to forge Europe’s biggest truckmaker.

VW, together with truckmaker MAN SE, already owns 62.6 percent of Scania’s equity and 89.2 percent of the votes.

Reporting by Andreas Cremer; Editing by Victoria Bryan

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