VOLKSWAGEN: TRUCK BUSINESS ACQUISITION ? * Germany
* Munich - Navistar Corp or Paccar Inc as possible acquisition targets
Volkswagen is ready to make an acquisition for its trucks business in North America if the right opportunity comes along, despite the rising cost of its "dieselgate" emissions cheating scandal, the head of the trucks division told Reuters... Andreas Renschler said in an interview that VW was under no pressure to do a trucks deal in the United States, adding it was important "to pick the right moment to take the right step"... He also declined to discuss potential deals. Analysts have suggested Navistar International Corp or Paccar Inc as possible acquisition targets or partners... Renschler said a public listing for VW's trucks business was not a top priority at the moment, though all options were being kept open to that end, he added, without being more specific... The trucks business made 24.4 billion euros of sales in 2015, out of a VW group total of 213.3 billion...
Munich, Bav, Germany - Reuters/The Daily Mail, by By Andreas Cremer and Irene Preisinger - July 20, 2016