German car and truck maker Volkswagen on Thursday said it had sold its transmissions making unit Renk to Triton for 97.80 euros a share, in a deal which gives Volkswagen proceeds of 530 million euros.
Triton entered into an agreement with the majority shareholder of Renk AG, Volkswagen Vermögensverwaltungs-GmbH, to buy 5.32 million shares in the company for 97.80 euros per share, Renk said in a statement.
Source: Reuters.com