Suzuki says to buy back Volkswagen stake for up to $3.9 billion

September 16, 2015 8:56 AM

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TOKYO Suzuki Motor Corp is buying back the 19.9 percent stake held by top shareholder Volkswagen AG for up to $3.9 billion, after an international arbitration court last month ordered the German automaker to sell its holding.

The Japanese automaker said it will repurchase on Thursday as many as 122.77 million shares at Wednesday's closing price of 3,842.50 yen per share for up to 471.74 billion yen ($3.9 billion) via the Tokyo Stock Exchange's off-hours trading system before the market open.

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