Independent Committee in Scania Evaluates the Offer by Volkswagen
SÖDERTÄLJE, Sweden -- February 23, 2014
On 21 February 2014, Volkswagen Aktiengesellschaft announced a public takeover
offer to the shareholders in Scania to tender all of their shares in Scania
(STO:SCVA)(STO:SCVB) to Volkswagen for a cash consideration of SEK 200 per
At an extraordinary board meeting in Scania the board of Scania – excluding
Martin Winterkorn, Hans Dieter Pötsch, Francisco J. Garcia Sanz, Leif Östling
and Ferdinand K. Piëch – has decided to appoint an independent committee,
consisting of the board members Åsa Thunman (chairman of the committee), Peter
Wallenberg Jr, Peter Abele, Johan Järvklo and Håkan Thurfjell to evaluate the
offer and to take such resolutions in relation to the offer as are necessary.
The independent committee will announce its opinion of the offer, including
the reasons for the opinion, and valuation opinions – fairness opinions – from
independent experts not later than two weeks before the expiry of the
The independent committee has appointed advisers of its own for legal,
financial and communication issues.
Scania is one of the world’s leading manufacturers of trucks and buses for
heavy transport applications, and of industrial and marine engines.
Service-related products account for a growing proportion of the company’s
operations, assuring Scania customers of cost-effective transport solutions
and maximum uptime Scania also offers financial services. Employing some
41,000 people, the company operates in about 100 countries. Research and
development activities are concentrated in Sweden, while production takes
place in Europe and South America, with facilities for global interchange of
both components and complete vehicles. In 2013, net sales totalled SEK 86.8
billion and net income amounted to SEK 6.2 billion. Scania press releases are
available on www.scania.com(http://www.scania.com/se)
This information was brought to you by Cision http://news.cision.com
For further information, please call the committee’s press contact:
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