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VW Plots U.S. Truck Expansion With $2.9 Billion Navistar Offer

(Bloomberg) — Volkswagen AG offered to buy the rest of Navistar International Corp. in a $2.9 billion bid to secure a bridgehead in the U.S. heavy-truck market and step up its challenge to Daimler AG and Volvo AB.The expansion was somewhat offset by Volkswagen’s first major divestment since the German automaker skidded into the diesel-emissions scandal in 2015. An agreement to sell industrial machinery unit Renk AG, valued at 760 million euros ($840 million), indicates VW is more inclined to bulk up than slim down, even amid the costly shift to electric cars.The swoop for Navistar, which was first reported …read more […]

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Aston Martin to Sell Stake to Formula One Billionaire

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Aston Martin Lagonda Global Holdings Plc secured a 500-million-pound ($656 million) lifeline to restore the balance sheet and help build a new sport-utility vehicle after agreeing to sell a stake to billionaire Lawrence Stroll.The shares posted their biggest gain ever on Friday after Aston Martin said a group led by Stroll will buy as much as 20% of the U.K. luxury carmaker as part of a rescue package.The Canadian investor will become executive chairman, according to a statement Friday. Bloomberg News reported …read more […]