However, Porsche has no strategic interest in acquiring Scania shares and is therefore offering only the minimum prices required by law, namely 68.52 kronor per A share and 67.10 kronor per B share of the truck manufacturer. The transfer of title to the Scania shares tendered pursuant to the mandatory offer, the so-called settlement, is envisaged to take place on 20 February 2009 and is being fully financed from Porsche’s existing liquidity. The total value of the Scania shares to which the mandatory offer relates amounts to approximately 31.6 billion kronor (approximately EUR 2.8 billion).
The offer price for both series of shares is calculated on the basis of the volume-weighted average stock exchange price of the relevant share during the 20 trading days up to and including 2 January 2009, the last trading day before the acquisition of indirect control of Scania.
On 5 January 2009, Porsche had announced that it had on that day increased its interest in Volkswagen AG, Wolfsburg, to 50.76 percent of the ordinary voting shares in Volkswagen and thus held more than 50 percent of all voting rights in Volkswagen.
As a result of this increase and the fact that Volkswagen’s interest in Scania exceeds the statutory threshold of 30 percent of all voting rights, Porsche acquired indirect control of Scania according to Swedish takeover law. The Stuttgart-based company was therefore obliged to announce a mandatory offer for those Scania shares that are not under its direct or indirect control.
In light of this, the mandatory offer extends to all Scania shares which are not held by Volkswagen or any other company directly or indirectly controlled by Porsche. The Scania shares are listed on the NASDAQ OMX Stockholm in the segment “Nordic List, Large Cap”.
Features: 1) Coxswain SUV: while foldable 2nd and 3rd seats are put down, adding 1,200 x 1,350 x 900mm luggage compartment, an extra space for luggage will meet your special demand 2) Peach-grain dash board, adjustable steering wheel, peach-grain shift lever knob ball, environmental air conditioner, CD and hi-fi audio, high back leather seat, power steering and three point seat belt, all these equipment allow you to enjoy relax and cozy drive 3) Foldable leather arm rest 4) Rear-mounted air conditioner and LCD screen VCD, cozy enjoyment of life 5) Dual cross arm torsion bar spring independent suspension, special chassis for SUV, offering high pass capability and ensuring comfortable ride and stable drive, making SUV like a car in terms of adjust ability to road surface and steering 6) Stable and mighty 235 big tyre ensuring good ground-grip capability, wide electric wing mirror allowing broad view 7) Equipped with 491Q-ME multi-point ele-fuel injection engine, displacement of 2.3 L, ECU control, 76KW, top speed of 140 km, meeting EURO II emission standard. LPSV mounted on brake system ensuring reasonable distribution of brake on front and rear wheel according to loading weight and brake force and making more stable driving 8) Body color: noble yellow, moonlight white, Jianjiang grey, Ziying blue, Haimo blue, ice blue long gre
GONOW GS50 Automobile
