Volkswagen, Suzuki Could Revive Partnership
According to people familiar with the matter, quoted by Bloomberg, “senior executives on both sides are involved in the effort to reach an agreement.” However, the legal proceedings are planned to go ahead if talks fail to bring the two companies back together.
“Both companies stand to benefit if they can overcome the disagreements over leadership claims,” said Frank Biller, a Stuttgart-based analyst at LBBW. “VW and Suzuki would still complement each other very well.”
The two companies have announced their partnership back in 2009. They were supposed to jointly develop and build affordable cars for the emerging markets, but the project collapsed in 2011. Suzuki accused VW of breaching the conditions of their agreement and demanded the German automaker returns the 19.9 percent stake it acquired in 2009.
Story via Bloomberg