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According to the Wall Street Journal, Volkswagen reported on November 3 that its application for the acquisition of the Man Truck Company had obtained approval from the Chinese government for competition in the industry, and cleared the last obstacle for the success of Mann.
It is reported that due to concern that Volkswagen’s acquisition of German Man Company will affect the Chinese commercial vehicle market pattern, on September 20, a spokesman of the Ministry of Commerce stated that the case has been officially filed and will be reviewed in accordance with the provisions of the Anti-Monopoly Law. A person from the automotive industry research organization stated that VW United has set up a large-scale truck manufacturer in order to look at the opportunities of the emerging commercial vehicle market or affect the market structure of China's commercial vehicle market. Prior to this, Mann conducted technical cooperation in the commercial vehicle market in China. a lot of. Among them, in 2009, Mann signed an agreement with China National Heavy Duty Truck, spent HK $ 6.0 billion to acquire a 25% stake in China's heavy truck 1, as well as technology transfer and China National Heavy Duty Truck signed a technology transfer license agreement.
According to the acquisition agreement, Volkswagen currently holds 55.9% of the voting shares of Mann and 53.71% of the share capital (Share Capital). According to German law: If a company holds more than 30% of the voting shares of another company, it must issue a takeover offer to all the remaining shareholders of the latter.
Volkswagen said in a statement: "The industry competition terms for the acquisition of most of the equity have been met." At the same time, the public revealed that according to the previous valuation, the transaction amount will be around 13.76 billion euros (about 19.79 billion US dollars). The final result will be finalized on November 9. This means that Man will form a European Truck Alliance with Volkswagen's Scania to compete against the current two largest truck giants, Daimler and Volvo .
As early as September 26 this year, Volkswagen received antitrust approval from the European Commission and laid the foundation for its complete acquisition of MAN manufacturer.
At present, Shaanxi Auto's main product, DeLong F2000 and the latter's F3000, are the results of innovation after the signing of the F2000 heavy truck technology transfer agreement with Man in 2004. In addition, German Mann also provided young people with heavy trucks for assembly and production by licensing, and also set up a joint venture with Yutong to build chassis for the lions. It also cooperated with companies such as Huanghai Bus.
Volkswagen's acquisition of Mann Trucks has been approved by the Chinese government