Osamu Suzuki said that he “feels really good” and is “satisfied” with the decision from arbitrators
Japan's Suzuki Motor said on Sunday that it plans to buy back its shares sold to Volkswagen after an international arbitration court settled a dispute between the two automakers.
Tokyo: Japan’s Suzuki Motor said on Sunday that it plans to buy back its shares sold to Volkswagen after an international arbitration court settled a dispute between the two automakers.
The ruling came four years after the Japanese small car maker attempted to end an alliance with the German auto giant, which has refused Suzuki’s repeated demands to sell back the 112.21 million shares, or 19.9 per cent of Suzuki.
Arbitrators at the International Chamber of Commerce (ICC) ruled the alliance has been terminated and ordered Volkswagen to dispose of Suzuki shares, the Japanese company said.
Suzuki chairman Osamu Suzuki said at a press conference held in Tokyo on Sunday he “feels really good” and is “satisfied” with the decision from arbitrators.
The chairman did not elaborate on why the two automakers had to split after a 1.7 million euro ($2.3 billion) tie-up in 2009. “It was a precious experience. I learned there are different types of companies,” he said.
( Source : AFP )
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