Transportation
Volkswagen Raises €360 Million in Traton Unit Stake Sale
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Volkswagen AG raised about €360 million ($393 million) through the sale of a 2.2% stake in Traton SE.
The German carmaker offered around 11 million shares in its truck unit through an overnight placement, in a bid to enhance liquidity in the stock, Volkswagen said in a statement Tuesday. The transaction priced at €32.75 per share, an 8% discount to Traton’s closing price in Frankfurt, according to terms seen by Bloomberg Wednesday.