Scania to be owned by VW

I bought VW,hammered it for 20 yrs.then sold it for more than I paid for it. :laughing:
Rotten engine,gear box,brakes,& heater,but the youngsters love 'em. :slight_smile:

nothing special about modern vw. scania are ahead of the game compared to man id guess they where bought to try and help the poorly made man marque.

Taken from www.thelocal.de

Scania owners reject Volkswagen takeover bid
The proposed sale of Swedish truck giant Scania to Volkswagen is hanging in the balance after two of the company’s owners said they were unwilling to sell their shares to the German manufacturer.

Volkswagen offers €6.7bn to snap up Scania (22 Feb 14)

Volkswagen tabled their $9.2 billion bid to swallow up Scania on Friday. It already owns 89 percent of Scania’s voting rights and 62.6 percent of the company, with VW eager to secure the nearly 40 percent they don’t own.

However, the takeover has encountered resistance from two of Scania’s minority owners. Both insurance outfit Skandia and pension fund AP4 have expressed reservations about selling up to Volkswagen.

“Scania’s prerequisites to maintain its leading position are better as a listed company than as a subsidiary in a larger group. Skandia doesn’t intend to accept the offer," Caroline af Ugglas, head of equities at Skandia told Bloomberg.

Volkswagen is telling shareholders of the outstanding stock it is willing to pay them 200 Swedish kronor ($36.84) per share. It bought into Scania in 2000.

Taking full control of the Swedish company, it reckons it will make annual savings of 650 million euros through synergies reports AFP. Volkswagen already owns German truck and bus outfit MAN.

“This must be evaluated in light of the duty we have for our pensioners and it is not obvious that that is the stock market price plus a few percent,” said Mats A. Andersson, who heads up the AP4 pension fund to Bloomberg.

Meanwhile, the proposed deal has also encountered concern from the IF Metall trade union at Scania in Södertälje, who fear their influence would be lost if Scania is swallowed up by Volkswagen.

The deal has received some positive backing with the Swedish Shareholders’ Association who said it was “positive.”

“There is a lot of frustration regarding how VW has treated their minority shareholders. We think it is positive that they make this offer," Carl Rosen, head of the Swedish Shareholders’ Association is quoted as saying by Bloomberg.

Scania, which has been in operation since 1891, presently employs 38,600 employees in more than 100 countries. Its headquarters are in Södertälje, Stockholm county, where almost 10,000 of the workforce are based.

wheelnutt:

Silver_Surfer:
Well I think that’s a bit strong.

For effect of course. The Scania has such a blind following and I bet you 99% don’t even realise it hasn’t been Swedish for donkey’s years and is just a MAN. If you want Swedish, there is only Volvo.

When long established operators are going to spend the cost of the chassis again on specialist vaccum tanks and cranes ect, which unit do they buy? I will give you a clue, it does not begin with M.

wheelnutt:

Silver_Surfer:
Well I think that’s a bit strong.

For effect of course. The Scania has such a blind following and I bet you 99% don’t even realise it hasn’t been Swedish for donkey’s years and is just a MAN. If you want Swedish, there is only Volvo.

Finally some comments around this on Swedish radio. Acording to them so far the only joint project with the VAG GROUP has been to buy steel together. Not a sigel thing has been developed together so far!

although im not a big scania fan im glad they are left to there own…so far. the big vw corporation is unlikely to give up easy tjough.

Little useless fact:

‘VAG’ doesn’t stand for ‘Volkwagen Audi Group’.

The ‘AG’ in VAG is an abbreviation of the German word for corporation. VAG actually stands for Volkswagen Corporation.

Thats my tuppence worth :smiley:

Just for the record…(I think I’ve got this right and if I haven’t it’s only because actual ownership is murky)

Porsche Automobile Holdings SE’s share holdings of VAG are 50.7%. (This also triggered, under European Law an Automatic bid for Scannia as VAG was already in a controlling position of Scannia). This is a voting share rather than owner ship shares!

Due to tax profits of VAG. Porche ended up with 10 Billion Euro’s of debt. The Qatar Investment Authority injected a large amount of cash and gaining 17% Voting share of VAG.

The State of Saxony (Basically local government) has 20%

The rest belongs to others including Porsche AG!

How it got that way is complicated by the murky world of investment companies/holding companies/groups because VAG actually owns 100% of the Porsche Automotive Company (That gives that part of the Porsche AG company a 2.7% share of VAG).

So Porsche SE has a 50.7% share of VAG who owns the car manufacturer Porsche AG who have a 2.7% stake in VAG as a return.

Porsche SE is 71% Porsche family owned and 29% VAG.

So the Porsche family owns most of it but doesn’t actually manufacture cars any more!

On a personal note I concluded a long time ago that investment companies/holding companies/groups own most things and who owns them companies is murky. Most are also up to their collective necks in debt. Those debts are also held by investment companies/holding companies/groups who…

Hopefully you get the picture!

VAG is about VAG as BA is about BA!

VW Will get them eventually, they’re just courting at the moment & some are playing hard to get.

The new Scania cab (on another thread here) looks ripe for sharing with MAN, a la Volvo/Renault

Gearbox/axles next, then engines? Seems to be the pattern with previous similar situations.

Hiya when i was in South Africa 4 years ago i saw some trucks with the VW badge that looked
a bit like a Scania cab, i may have some piccies somewhere.
John

vw

1-vw.jpg

What a surprise, the two worst gearboxes in a modern truck are both the responsibility of VAG.

Being fair though, VAG does need a premium brand for trucks and running Scania as the Audi of the truck world with MAN going for the VW-esque truck market would make sense.

Just like in the world of cars, you would have an Audi for your company car but would buy the BMW with your own money. For trucks you would have an MAN if you were offered it but if you were buying, (and money was no object,) it would be a FH16 750. The one that worries me is IVECO for two reasons.

1: I may be asked to drive one.
2: It will end up being priced out of the market, especially now Renault is doing the same job better for less money.

So Renault vs MAN and Merc in the fleet area and Scania vs Volvo and Merc for the pride of the fleet.

:
Hopefully you get the picture!

VAG is about VAG as BA is about BA!

As the EDF London Eye was originally called the British Airways London Eye. This bit was built by Skoda :stuck_out_tongue:

spindle.jpg

milodon:
any proof of shared components beyond rear lights?

Not yet but VW want too :slight_smile:

Volkswagen wants to ramp up cost-cutting synergies between its two European truck brands, MAN and Scania, by going from what it calls “arms-length co-operation” to extensive sharing of major components.

commercialmotor.com/latest-n … ania-mania