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Ringo64

RSS Report: Suzuki gets legal with VW over troubled partnership

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Filed under: Europe, Government/Legal, Japan, Suzuki, Volkswagen, UKsuzuki-and-vw-grilles.jpg

Suzuki is turning to legal arbiters in the UK in an attempt to force Volkswagen to return its 19.9-percent stake in the Japanese automaker, according to Automotive News Europe. VW purchased the sizable slice of Suzuki in 2009 for around $2.1 billion when the two embarked on a corporate partnership together, but the relationship soon hit trouble. Suzuki accused Volkswagen of failing to deliver on promises of shared technology, while the German manufacturer reportedly took issue with Suzuki opting to source a small-displacement engine from rival Fiat. The two former partners have delighted in taking pot shots at one another ever since.

Suzuki has offered to buy back its shares from Volkswagen at market prices, which values them at around $2.5 billion. The ICC International Court of Arbitration in London will handle the proceedings. Automotive News Europe reports international companies often turn to the court to settle differences due to the fact that the proceedings are typically private and the decisions respected.

Suzuki gets legal with VW over troubled partnership originally appeared on Autoblog on Sat, 07 Jul 2012 10:00:00 EST. Please see our terms for use of feeds.<h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6>Permalink | Email this | Comments

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