Volkswagen AG is to strengthen Audi’s role within the Group. With Markus Duesmann as the new CEO, Audi will take the lead for research & development within the brand alliance. In the context of reorganizing competencies and responsibilities, Volkswagen AG plans to carry out a squeeze-out according to German stock corporation law in order to acquire the 0.36 percent of Audi’s shares that are traded on the stock exchange.
Dr. Herbert Diess, Chairman of the Board of Management of Volkswagen AG and Chairman of the Supervisory Board of AUDI AG: “Given the strong dynamics of change in our industry, we are pooling our strengths in the Volkswagen Group and positioning ourselves competitively for the future. Going forward, the Audi brand with Markus Duesmann as its new CEO will take over the lead for research & development in the Volkswagen Group and thus swiftly assume technical leadership.”
As part of the realignment of competences and responsibilities, Volkswagen AG is planning a squeeze-out according to German stock corporation law to increase its shareholding in Audi from the present 99.64 percent to 100 percent. It has informed AUDI AG of this in a request for the transfer of minority shares.
The Volkswagen Group is responding even more proactively to the challenges of the transformation with an optimal positioning and effective structures. Audi CEO Bram Schot: “It is exactly the right way not to stick to the organizational status quo, but to consistently exploit the advantages of the Group’s network. With a greater job split at the Group, we can manage future issues more agilely and flexibly. The new structure will strengthen Audi’s role within the Volkswagen Group and recharge Vorsprung durch Technik.”
AUDI AG will continue to be a stock corporation. It will therefore retain a legal form compatible with the capital market and employee codetermination will remain unaffected. “As Audi’s employee representatives, we fought for and achieved this goal,” states Peter Mosch, Chairman of Audi’s General Works Council. “The brand will therefore continue to be independent within the Group.”
A resolution on the squeeze-out according to German stock corporation law is to be passed by this year’s Annual General Meeting of AUDI AG. In light of this, the Annual General Meeting of AUDI AG, which was originally scheduled for May 14, 2020, will be postponed until July or August 2020.
Please try another search
My Recent Searches Popular Searches
Day's Range 52 wk Range Prev. Close Open Volume Average Vol.(3m) 1-Year Change Market Cap Beta P/E Ratio Type Market ISIN CUSIP Shares Outstanding Revenue
EPS
46.19Dividend (Yield)
(%)Next Earnings Date
-How do you feel today about Audi AG?
or
Audi AG News & Analysis
Analog Devices earnings, Revenue beat in Q3
Investing.com - Analog Devices (NASDAQ:ADI) reported on Wednesday third quarter {{erl-7869||earnings that beat analysts' forecasts and revenue that topped expectations. Analog Devices...
TJX earnings beat, Revenue misses in Q2
Investing.com - TJX (NYSE:TJX) reported on Wednesday second quarter {{erl-8227||earnings that beat analysts' forecasts and revenue that fell short of expectations. TJX announced earnings...
Indian Finance Minister Issues Warnings Regarding Crypto
The Indian finance minister suggested against using cryptocurrency.The law enforcement organization blocked the assets of two crypto exchanges.At a BJP Economic Cell event on Saturday,...
INSIGHT-Feuding Korean firms risk disrupting electric car battery supplies
* SK Innovation and LG Chem locked in U.S. legal battles* Automakers worried the feud will hit battery supplies* Ford encouraging the companies to bury the hatchet* EV battery makers...
UPDATE 1-Germany, India sign wide-ranging agreements to deepen bilateral ties
(Releads)By Andreas Rinke and Aditi ShahNEW DELHI, Nov 1 (Reuters) - German Chancellor Angela Merkel and Indian Prime Minister Narendra Modi signed wide-ranging agreements in New Delhi on...
REFILE-Germany's Merkel likely to press for FTA in talks with Indian PM Modi
(Refiles to remove extraneous letters from headline)By Andreas Rinke and Aditi ShahNEW DELHI, Nov 1 (Reuters) - Germany is likely to urge India to restart talks on finalising a free trade...
UPDATE 1-Despite Q3 decline, Tesla's Model 3 stays on top in Norway
* Norway leads world in per-capita electric auto sales* Tesla's Model 3 is Norway's top-selling car in 2019* Q3 sales of Model 3 below Q1, Q2 levels* Norway seeks to end combustion...
German stocks - Factors to watch on July 6
BERLIN/FRANKFURT, July 6 (Reuters) - The following are some of the factors that may move German stocks on Friday: GERMAN COALITION Germany's Social Democrats (SPD) has reached an agreement...
UPDATE 1-India's Eicher set to make $1.8 bln-$2 bln binding bid for Ducati - paper
* Eicher believed to be only Asian firm left in auction -paper * Eicher currently finalising terms with advisers -paper * Shares of the maker of Royal Enfield motorbikes hit record high...
UPDATE 1-India cabinet approves raising levy on luxury cars, SUVs
* Maximum levy to be hiked to 25 pct from 15 pct * India's GST council to decide on timing of increase (Adds comments from Finance Minister, context) NEW DELHI, Aug 30 (Reuters) - India's...
India's plan for higher rate luxury car tax to hit sales - Mercedes-Benz
NEW DELHI, Aug 7 (Reuters) - Mercedes-Benz on Monday said India's proposal to increases taxes on luxury cars and sport-utility vehicles (SUVs) could impact the carmaker's expansion plans in...
Benetton family seeks to make Ducati motorbikes Italian -sources
By Pamela Barbaglia, Arno Schuetze and Massimo Gaia LONDON/FRANKFURT/MILAN, July 20 (Reuters) - Italy's Benetton family is vying with motorbike firms and buyout funds for control of Italian...
Deals of the day-Mergers and acquisitions
(Adds NMC Health, Portsmouth, Engie SA, Aetna, Kotak Mahindra, Morocco's Samir) May 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on...
German stocks - Factors to watch on May 18
FRANKFURT, May 18 (Reuters) - The following are some of the factors that may move German stocks on Thursday: MERCK MRCG.DE Q1 results due. Adjusted EBITDA seen up 10 percent at 1.19...
German stocks - Factors to watch on March 3
FRANKFURT, March 3 (Reuters) - The following are some of the factors that may move German stocks on Friday: EURO ZONE European Central Bank Executive Board member Sabine Lautenschlaeger...
German stocks - Factors to watch on September 21
FRANKFURT, Sept 21 (Reuters) - The following are some of the factors that may move German stocks on Wednesday: MARKETS Japanese stocks rallied and the yen weakened in a volatile session on...
UPDATE 1-S.Korean prosecutors raid Volkswagen office in emissions probe
* VW/Audi office, official's house raided -Yonhap * Documents on emissions verification seized -Yonhap * Raid part of emissions-related probe (Add comments from Volkswagen,...
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures), cryptocurrencies, and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.
Therefore Fusion Media doesn't bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms
possible.