Volkswagen's acquisition of Man Trucks finalized through China's approval of final results next week

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.

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.

According to the agreement, Volkswagen currently holds 55.9 percent of Mann’s voting shares and 51.71% of 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.

On September 26 this year, Volkswagen received antitrust approval from the European Commission and laid the foundation for its complete acquisition of MAN manufacturer.