Volkswagen AG to sell RENK shares to Triton

• Volkswagen AG Board of Management and Supervisory Board approve sale of 76 percent stake or approximately 5.3 million shares in listed company RENK AG
• Purchase price of 97.80 EUR per share is subject to adjustments in relation to dividend
• Transaction implies cash inflow of approximately 530 million EUR for Volkswagen
• Long-term location and employment guarantee for RENK’s German sites until December 31st 2026 agreed
• CFO Frank Witter: ”Volkswagen is driving the transformation of the Group further forward and new perspectives for the future and for growth are opening up for RENK.”
• Works Council Chairman Osterloh: “With the disposal of RENK to Triton we found a reasonable solution for the asset. The location and employment guarantee for the German plants until 2026 is an essential and future-oriented point of the transaction.”

Full press release (ENG)