January 30, 2020 / 10:02 PM / 24 days ago

German truck maker Traton offers to buy remaining Navistar stake for $2.9 billion

FILE PHOTO: Visitors stand at the booth of Volkswagen's truck unit Traton Group, former Volkswagen Truck & Bus AG, in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer/File Photo

(Reuters) - German truck manufacturer Traton SE (8TRA.DE) said on Thursday it had made a $2.9 billion offer to buy the remaining shares in Navistar International Corp (NAV.N) it does not already own.

Traton, Volkswagen’s (VOWG_p.DE) truck unit, said it owns a 16.8% stake in Navistar.

Traton has agreed to pay $35 per Navistar share.

(This story corrects headline to say Traton “offers to buy”, not “to buy”)

Reporting by Kanishka Singh in Bengaluru; Editing by Shinjini Ganguli

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