Volkswagen increases stake in Sweden’s Scania

German automaker Volkswagen has bought a huge stake in Scania to increase its influence over the Swedish truck builder.

Volkswagen increases stake in Sweden's Scania

The Wolfsburg-based Volkswagen purchased the holdings of the Wallenberg Foundation and Investor AB to increase VW’s voting-rights in Scania from 38 to 68.6 percent, the German car company announced on Monday. The deal will cost VW roughly €2.9 billion.

VW already controlled the Swedish truck maker along with Munich’s MAN, which also makes heavy-duty utility vehicles. Volkswagen paid 200 Swedish kronar (€21.39) per share to increase its capital stake from 20.89 to 37.73 percent.

The Swedish financial stalwart Investor AB called its sale to VW a “natural step” to clear the shareholder structure in order to help strengthen Scania. The firm, which for months had prevented MAN from taking over Scania, said VW had proven itself to be a trusted custodian of well-known Swedish industrial brand.

“The last eight years have shown that Volkswagen is a capable and responsible industrial shareholder,” commented Jacob Wallenberg, Chairman of the Board of Investor AB.


Two hospitalized in Munich after activist crashes parachute into Euro 2020 stadium

At least two people were hospitalised Tuesday after a Greenpeace activist crash-landed on the pitch before the Germany-France match at Euro 2020 when his powered parachute microlight struck spidercam cables at Munich's Allianz Arena.

Two hospitalized in Munich after activist crashes parachute into Euro 2020 stadium
The activist lands on the turf of the Allianz Arena. credit: dpa | Christian Charisius

The pilot flew over the pitch just before kick-off in the Group F clash with “Kick out oil” written on the canopy of his parachute.

However, when the pilot hit television cables above the pitch, it knocked his microlight off balance and he landed on the turf after clipping one of the stands, where the casualties happened.

The activist was arrested soon after landing.

A Munich police spokesman told AFP that at least two people suffered head injuries and “both had to be taken to hospital, we don’t know yet how serious the injuries are”.

The police spokesman said the activist appears to have escaped injury, but “we are considering various criminal charges. Munich police has zero understanding for political actions that put lives at risk”.

UEFA also slammed the botched stunt.

“This inconsiderate act – which could have had very serious consequences for a huge number of people attending – caused injuries to several people attending the game who are now in hospital and law authorities will take the necessary action,” European football’s governing body said in a statement.

The parachutist above the stadium. Photo: dpa | Matthias Balk

“The staging of the match was fortunately not impacted by such a reckless and dangerous action, but several people were injured nonetheless.”

The stunt was a protest against German car manufacturer Volkswagen, one of the sponsors of the European Championship, Greenpeace explained in a Twitter post.

“UEFA and its partners are fully committed to a sustainable Euro 2020 tournament and many initiatives have been implemented to offset carbon emissions,” said UEFA.

Greenpeace said they regretted any harm caused.

“This protest was never intended to disrupt the game or hurt people,” read a Twitter post on Greenpeace’s official German account.

“We hope that everyone is OK and that no one was seriously injured. Greenpeace actions are always peaceful and non-violent.”

“Unfortunately, not everything went according to plan.”

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