AMG
17-09-2004, 01:36 AM
للترجمة
A plan to sell a major stake in Volkswagen to the Arab emirate of Abu Dhabi fell through on Wednesday, Volkswagen said in a release. VW was hoping to use the cash infusion created by selling 9.8 percent of its shares to the emirate to acquire a Dutch fleet-management company, but the descent of VW share prices since the deal was announced in April tanked the deal. The VW shares involved in the deal have lost about $245 million in value since the spring, but the emirate declined to close the deal at the negotiated price given the drop in value.
A plan to sell a major stake in Volkswagen to the Arab emirate of Abu Dhabi fell through on Wednesday, Volkswagen said in a release. VW was hoping to use the cash infusion created by selling 9.8 percent of its shares to the emirate to acquire a Dutch fleet-management company, but the descent of VW share prices since the deal was announced in April tanked the deal. The VW shares involved in the deal have lost about $245 million in value since the spring, but the emirate declined to close the deal at the negotiated price given the drop in value.