Suzuki Shares Surge After Volkswagen Ordered to Sell Stake
BySuzuki Motor Corp. rose in Tokyo trading after arbitrators told Volkswagen AG to sell its 19.9 stake in the Japanese carmaker, ending a four-year dispute over a failed partnership.
Suzuki jumped as much as 4.6 percent to 4,340.5 yen and traded at 4,287.5 yen as of 9:09 a.m. It was the fourth-biggest gain among companies in the benchmark Nikkei 225 Stock Average, which fell 0.8 percent.
VW will sell the holding after the arbitrators upheld Suzuki’s request to end the cooperation, the companies said in separate statements on Sunday. Suzuki said VW has to sell the stake — valued at about 463 billion yen ($3.8 billion), based on Friday’s closing price — back to the Japanese carmaker or a party of its choosing, while VW said the buyer hasn’t been decided. The German company said it has hired a bank for the sale and is still analyzing the ruling…
Suzuki Shares Surge After Volkswagen Ordered to Sell Stake
