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VW eyes 6.7 billion euro Scania buyout to seal trucks deal

Volkswagen will submit a voluntary tender offer to shareholders of Swedish truck division Scania worth 6.7 billion euros ($9.21 billion) as it aims to jump-start a stalled eight-year effort to forge Europe's biggest truckmaker.VW has spent billions of euros over the past decade on expanding stakes in Scania and its other trucks division MAN SE to reap cost savings and take on Daimler , the world's biggest truck maker.The tender period will start on March 17 and end April 25, Wolfsburg-based VW said in a statement on Friday. VW expect additional synergies of at least 650 million euros per year, adding it may take at least 10 years to achieve the full potential.Europe's biggest automotive group is struggling to replicate its effective multi-brand management of passenger-car marques such as luxury flagship Audi and Czech division Skoda in its truck operations, the success of which is important for its goal of becoming world market leader by 2018."Scania will play a central and strategic r...

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