German automaker Porsche SE says it is buying 1.5 percent stake of ordinary shares in Volkswagen AG from Suzuki.
The purchase raises Porsche's share of Volkswagen AG's ordinary shares to 52.2 percent, and its stake in VW's subscribed capital to 32.4 percent.
The move comes days after Volkswagen was hit by a scandal over allegedly rigged U.S. emissions tests in diesel vehicles.
Porsche said in a statement Saturday that it considers the purchase "as a strong commitment to its core investment and emphasizes its role as an anchor shareholder" in Volkswagen.
Source:
AP