Volkswagen to Divest 2.2% Stake in Traton for Liquidity
BERLIN (Reuters) - Volkswagen intends to sell up to 11 million shares in commercial vehicle manufacturer Traton, the German carmaker said on Tuesday, representing up to a 2.2% stake worth about 391 million euros ($427.87 million) at Tuesday's closing price.
"The transaction aims to enhance the free float and trading liquidity of Traton shares, while Volkswagen Group intends to remain a committed and responsible shareholder," Volkswagen said in its statement.
Volkswagen owns almost 90% of Traton.
($1 = 0.9138 euros)
(Reporting by Christoph Steitz; Writing by Miranda Murray; Editing by David Goodman)
