World Economy

Suzuki Buys Back VW

Suzuki Buys Back VWSuzuki Buys Back VW

Japanese carmaker Suzuki has bought back all Volkswagen shares, ending a year of bitter talks on ending a failed partnership that started back in 2009, DW reproted. Investors in the Asian auto maker welcomed the move. Suzuki confirmed Thursday it had bought back all 111.6 million shares from Volkswagen for 460 billion yen ($3.8 billion). In August, the International Court of Arbitration, part of the International Chamber of Commerce, had sided with the Japanese carmaker, ruling that Germany’s VW must sell its complete stake after both companies had declared that their partnership had no future.