• Further step towards the creation of an integrated commercial vehicles group
• Goal is to strengthen and simplify cooperation in the Commercial Vehicles business
Volkswagen is seeking to conclude a domination and profit and loss transfer agreement with MAN SE and will start talks on this subject with MAN SE’s Executive Board. The planned step is a further milestone on the road to creating an integrated commercial vehicles group.
Entering into a domination and profit and loss transfer agreement is designed to enable Volkswagen and MAN to strengthen and simplify their cooperation, thereby increasing the competitiveness of both companies. Volkswagen currently holds 75.03 percent of the voting rights in MAN SE. Volkswagen has always stressed its intention to actively pursue the creation of an integrated commercial vehicles group and that it would keep all of its options open in this regard.
The Volkswagen Group also emphasized that MAN’s business activities would continue and that MAN would retain its brand-specific characteristics and business areas within the Volkswagen Group under a domination and profit and loss transfer agreement. Volkswagen naturally also respects the employees’ rights without limitation and is clearly committed to MAN’s workforce.
The goal is to quickly initiate the steps necessary for concluding the domination and profit and loss transfer agreement. Further details will be provided by the companies.