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VW said to consider buying Karmann assets
VW said to consider buying Karmann assets instead of company
Posted Friday, Oct 30, 2009, 2:45 pm in Employee News
Volkswagen AG, Europe’s biggest automaker, is considering a purchase of assets from Wilhelm Karmann GmbH instead of a complete takeover of the insolvent car manufacturer, people familiar with the situation told Bloomberg.
Volkswagen may buy Karmann’s German premises including assembly halls, manufacturing facilities and a paint shop in Osnabrueck about 106 miles west of Volkswagen’s headquarters in Wolfsburg, said the source and Bloomberg reported.
VW negotiators requested Oct. 28 financial documents on Karmann’s assets and explained that interest has shifted away from a fully-fledged takeover, the sources said. Talks have been held up by differences in the purchasing price with a proposed 20 million-euro ($29.6 million) offer from VW falling short of what Karmann is seeking, the story said. (Bloomberg)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
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