Deals
VW Selling $2.7 Billion in Shares to Fund Scania Takeover
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Volkswagen AG, Europe’s biggest carmaker, sold 2 billion euros ($2.7 billion) in preferred stock to fund the takeover of Swedish truckmaker Scania AB.
Institutional investors bought 10.5 million shares at 191 euros a share, a discount of 2.4 percent to yesterday’s closing price, the Wolfsburg, Germany-based company said today.