Suzuki announced on September 17 that they have completely bought back 111,610,000 (19.9% of the issued shares) stake from Volkswagen (VW). Suzuki redeemed a total amount of 460,281,547,500 yen.
Suzuki and VW both shared stocks and has cooperated with each other in terms of funding and business partnership on a technical level in 2009, until this relationship worsened. In November 2011, Suzuki has proposed an order for arbitration from an international arbitration court, aside from notifying VW to cancel their business partnership.
On the same court, the arbitration judgment for the cancellation of VW and Suzuki’s partnership was declared, and VW was ordered to sell back the Suzuki stake that VW possessed.
(Translated by Claire Marie Sausora)