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Sweden's Investor AB says will tender its Scania stake to VW
April 30, 2014 / 4:36 PM / in 4 years

Sweden's Investor AB says will tender its Scania stake to VW

STOCKHOLM, April 30 (Reuters) - Swedish holding company Investor AB said on Wednesday it would tender its small stake in Scania to Volkswagen, which has bid to take full control of the truck maker.

VW said on Wednesday it controlled 88.25 percent of Scania’s equity and 95.81 percent of the voting rights, once the shares tendered in its 200 Swedish crowns ($30.48) per share offer were included, and extended the acceptance period for the bid.

“With our limited trading position and given the wide acceptance among other shareholders, we do not wish to contribute to an unclear ownership structure in Scania,” Investor Chief Executive Borje Ekholm said.

“Given the new information, Investor will tender its shares”.

Investor said it held a trading position representing less than 0.4 percent of the total number of shares.

Reporting by Simon Johnson; editing by Keiron Henderson

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