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Volkswagen Boosts Stake in MAN

4/13/2012 12:00:00 PM
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German truck maker MAN SE said Volkswagen AG has boosted its majority stake in the company to 73% of its common shares, Reuters reported Friday.

Volkswagen, which purchased a majority stake in MAN in November, previously held 55.9% of the voting rights.

Volkswagen is seeking to merge its commercial vehicle operations with MAN and truck manufacturer Scania AB of Sweden, which Volkswagen also controls.

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Emil Estafanous, CPA, CFF, CGMA