Suzuki Starts Arbitration With Volkswagen to Buy Back Shares
Nov. 24 (Bloomberg) -- Suzuki Motor Corp. said it started arbitration procedures over its partnership with Volkswagen AG as the Japanese carmaker seeks to buy back its shares after declaring an end to the two-year-old cooperation agreement.
The arbitration will take place at an international court in London, Hamamatsu-based Suzuki said today in a statement to the Tokyo Stock Exchange. The carmaker said Nov. 18 it had terminated the partnership with Wolfsburg, Germany-based Volkswagen and is demanding that the German automaker sell back its 19.9 percent stake in Suzuki.
