German Firm Buys VW Brazil Unit

German Firm Buys VW Brazil Unit

Brazil

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 to the process. Rothschild and Goldman Sachs advised the buyer, while UBS worked with Volkswagen. “Acquiring the Brazilian company and its strong brand enables MAN to expand into the South American market, one of the fastest-growin

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