The company, Tratton, a subsidiary of the German Volkswagen Group, the largest car producer in Europe, announced the signing of an agreement to buy the remaining share of the shares of the American truck manufacturer Navistar International Corp., at 44.50 dollars a share. According to the deal, the Navistar company is valued at about $ 3.7 billion.
In mid-October, Tratton announced its agreement to increase the value of the offer to buy Navistar shares from $ 43 per share to $ 44.50.Tratton already owns 16.7 percent of Navistar, and the company said its executive board, supervisory board and Volkswagen board have approved the deal.
Navistar’s board of directors has also approved the deal, which is expected to be completed by mid-2021, and Navistar said in a statement that its main shareholders, namely ICAN Capital and MHR Fund Management, have approved the deal.
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