Volkswagen AG, the world's 3rd largest auto manufacturer had purchased stakes of Scania AB from Investor AB and Wallenberg Foundations of Sweden for 2.8 billion Euro, increasing it's equity share from 20.89% to 37.73%; resulting in Volkswagen fully controlling Scania AB with voting rights of 68.60%.
In year August 1999, Volvo Trucks intended to purchase Scania's share from main shareholder Investor AB, however the deal was halted by European Union's antitrust law given that the move would create a company that owns 100% market share of the Nordic market.
In September 2006, Germany truck manufacturer Man AG purchased 17% share of Scania; Man AG was controlled by Volkswagen the following year after Volkswagen increased its shares to 29.9%.
Volkswagen CEO Martin Winterkorn welcomes Scania as the 9th brand under Volkswagen group and assures Scania, as with all other well structured brands under Volkswagen will continue to enjoy it's own corporate culture, in short nothing will change except for the good.
