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 a price of $ 44.50 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. The company said its executive board and supervisory board along with Volkswagen’s board of directors approved the deal.
The Navistar Board of Directors has also approved the deal, which is expected to be completed by mid-2021.
Navistar said in a statement that its main shareholders, ICAN Capital and MHR Fund Management, had approved the deal.
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