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German Firm Buys VW Brazil Unit

Dec 16, 2008

German vehicle manufacturer MAN Group is acquiring Brazil-based VW Truck & Bus from Volkswagen for EUR1.175bn enterprise value. MAN, in which VW has a 30% voting stake, is financing the acquisition with cash on hand and existing bank lines, according to a banker close...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

Julio Velarde, Peru central bank


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