Suzuki Motor Corp. confirmed that Volkswagen AG has sold back all the shares it held in the Japanese carmaker for ¥460.3 billion, closing the final chapter of an acrimonious partnership.
Suzuki repurchased all 111.6 million shares held by its German peer, according to a Tokyo Stock Exchange filing. An international arbitration court last month upheld Suzuki's request to sever their ties and force Volkswagen to sell its 19.9 percent stake.
Rather than pursue other partnerships, Suzuki has been urged to focus on its dominant India operations and Maruti subsidiary by Daniel Loeb, whose hedge fund Third Point LLC has disclosed it bought a stake in the carmaker. Chairman Osamu Suzuki, who brokered the deal with Volkswagen, has said Suzuki will insist on safeguarding its independence in any future dealings with other carmakers.