Suzuki buys back 19.9 per cent stake held by Volkswagen for $5.3b

Suzuki buys back 19.9 per cent stake held by Volkswagen for $5.3b

TOKYO - Suzuki Motor Corp said it had bought back a 19.9 percent stake previously held by Volkswagen AG for 460.28 billion yen (S$5.3 billion), ending a partnership that soured soon after it was formed.

Japan's fourth-largest automaker said it purchased 119.787 million shares at 3,842.50 yen each in after-hours trading on Thursday.

Suzuki also said in a statement it saw no need to now revise its earnings forecasts for the current business year through next March.

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