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Traton succeeds in jumping into the American truck market – Pledge Times

D.he VW truck holding Traton is now getting involved with its planned entry into the American market with a multi-billion dollar purchase. After a tough struggle, Volkswagen reached an agreement with the American truck and bus manufacturer Navistar on the recently controversial price – the door to the important North American commercial vehicle market is now wide open. The price for the urge to expand: Traton has to shell out around 3.7 billion dollars (3.2 billion euros) for the shares in the group that the Munich-based company does not yet own.

“We are delighted to have reached a general agreement on a transaction after intensive negotiations with Navistar,” said Traton boss Matthias Gründler. VW has been involved in Navistar for a number of years with currently around 16.8 percent, so far the collaboration has been limited to cooperation in a few fields. After years of speculation about a complete takeover, VW revealed the cards in January.

Challenge to Daimler

With the takeover, VW wants to get a foot in the door of the important American market and strengthen its heavy commercial vehicle business so as not to leave the field to its strong rival Daimler alone. With its brands MAN, Scania and Volkswagen Caminhoes e Onibus, VW is particularly strong in Europe and South America. But with the lead on the American market, the Stuttgart-based Daimler company is world market leader in heavy trucks. Daimler’s Freightliner truck brand and Thomas Built buses are particularly well-known in the United States.

Among other things, the corona crisis was not conducive to the talks between Volkswagen’s commercial vehicle division and the hesitant Navistar major shareholders. In addition, star investors Carl Icahn and Mark Rachesky wanted more money for their shares with his hedge fund MHR. Even the offer, which was initially increased from 35 to 43 dollars per share in September, was not enough for them. After VW had set an ultimatum until this Friday in the middle of the week, things went quickly. Now it should be $ 44.50 per paper.

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