MAN SE

History

2022: Transfer of Russian assets to a local dealer

On December 14, 2022, it became known that the truck manufacturer MAN, part of the Traton group of the Volkswagen automaker, transferred Russian assets to a local dealer - Man Truck Chelny LLC, registered in Tatarstan. The corresponding entry is entered in the Unified State Register of Legal Entities (USRUL). Its participants did not disclose the parameters of the transaction. Read more here.

2021: Traton buys all MAN SE shares

In early May 2021, Traton (a subsidiary of Volkswagen) announced the redemption of all non-company shares in truck manufacturer MAN SE at a price of 70.68 euros apiece. At the time of the announcement of this deal, MAN SE is almost owned by Traton, since the share of the German automaker in the company is 94.36%.

The agreement to transfer the remaining minority interest will be passed at the MAN SE AGM, which will be held on 29 June 2021. According to a Traton press release, the appropriateness of the cash payment is checked by a court-appointed auditor. The auditor has already indicated that from the current point of view, he will confirm that monetary compensation will be adequate.

Traton to buy all MAN SE shares

The buyout of the entire MAN SE is only part of a large-scale restructuring of the entire industry. The company is known to be cutting 3,500 jobs in, Germany as well as closing a truck factory in. Amid Austria these developments, MAN SE is continuing its procedure to take over truck maker Navistar from, USA which is expected to finish early in the third quarter of 2021.

The management of Traton noted that the deal with MAN SE will make the group structure more efficient, speed up the implementation of solutions and reduce administrative costs. As a result of the merger, MAN Truck & Bus SE and Scania AB, in particular, will become direct subsidiaries of Traton.

By May 2021, Traton is one of the world's leading truck manufacturers, thanks to its Scania, MAN, Volkswagen Caminhões e Ônibus and RIO brands. Its range includes commercial cars, trucks and buses, Traton has 29 production and assembly sites in 17 countries.^[1]

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