July 29, 2021

Volkswagen plans to acquire 0.4% of Audi that still does not control

Volkswagen plans to acquire all the shares of Audi, in which it now has a 99.64% stake, and place the brand at the forefront of the development of the automobile group.

Audi has reported on Monday that Volkswagen has decided to “strengthen the role of Audi within the group” and that the brand of the rings assumes the leadership in research and development within the brand alliance.

Within a reorganization of competencies and responsibilities, Volkswagen will carry out an expulsion of minorities in accordance with the German law of public limited companies, to buy 0.36% of the shares of Audi listed on the stock market and still They are not in your possession.

The operation will be approved by this year’s Audi shareholders meeting, which is postponed until a date to be determined in July or August, although it was initially scheduled for May 14.

The Chairman of the Volkswagen Board of Directors and Chairman of the Audi Supervisory Board, Herbert Diess, said in a statement that both brands are joining forces for competitive positioning.

“With Markus Duesmann, Audi will take the lead for R&D in the Volkswagen Group,” he says.

The CEO of Audi, Bram Schot, who will be replaced by Markus Duesmann at the beginning of next April, points out that “the new structure will reinforce the role of Audi within the Group”.

Audi will remain a public limited company, so it will retain a legal form compatible with the capital market

“As a representative of the Audi workers, we fight and achieve that goal,” says the president of the company committee, Peter Mosch, who recalled that the brand will remain independent within the group.


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