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Fwd: Volkswagen's Audi Courts Cosworth
In a message dated 6/4/98 9:53:17 AM Eastern Daylight Time, AOL News writes:
<< Subj: Volkswagen's Audi Courts Cosworth
Date: 6/4/98 9:53:17 AM Eastern Daylight Time
From: AOL News
BCC: Danix
Volkswagen's Audi Courts Cosworth
.c The Associated Press
INGOLSTADT, Germany (AP) - German automaker Audi, a subsidiary of
Volkswagen, said Thursday it was offering 350 million marks, or $197.7
million, to buy British-based Cosworth motor producers, a subsidiary of
Vickers.
Audi said both companies have agreed to the deal, but it is contingent on
whether Vickers stockholders vote to sell its Rolls Royce division to
Volkswagen and the sale goes through.
Vickers stockholders will vote Friday to determine who will buy Rolls Royce.
Top bidders are BMW and Volkswagen.
Audi also said the purchase of Cosworth still requires the approval of both
companies' supervisory boards.
Cosworth makes motors for Formula One racing cars, among other products.
Last year Audi produced about 546,000 cars with sales of more than 22 billion
marks. The German company employs some 38,000 people.
AP-NY-06-04-98 0951EDT
Copyright 1998 The Associated Press. The information contained in the AP
news report may not be published, broadcast, rewritten or otherwise
distributed without prior written authority of The Associated Press.
To edit your profile, go to keyword <A HREF="aol://1722:NewsProfiles">
NewsProfiles</A>.
For all of today's news, go to keyword <A HREF="aol://1722:News">News</A>. >>
- Subject: Volkswagen's Audi Courts Cosworth
- From: AOLNews@aol.com
- Date: Thu, 4 Jun 1998 09:53:17 EDT
Volkswagen's Audi Courts Cosworth
.c The Associated Press
INGOLSTADT, Germany (AP) - German automaker Audi, a subsidiary of Volkswagen,
said Thursday it was offering 350 million marks, or $197.7 million, to buy
British-based Cosworth motor producers, a subsidiary of Vickers.
Audi said both companies have agreed to the deal, but it is contingent on
whether Vickers stockholders vote to sell its Rolls Royce division to
Volkswagen and the sale goes through.
Vickers stockholders will vote Friday to determine who will buy Rolls Royce.
Top bidders are BMW and Volkswagen.
Audi also said the purchase of Cosworth still requires the approval of both
companies' supervisory boards.
Cosworth makes motors for Formula One racing cars, among other products.
Last year Audi produced about 546,000 cars with sales of more than 22 billion
marks. The German company employs some 38,000 people.
AP-NY-06-04-98 0951EDT
Copyright 1998 The Associated Press. The information contained in the AP
news report may not be published, broadcast, rewritten or otherwise
distributed without prior written authority of The Associated Press.
To edit your profile, go to keyword <A HREF="aol://1722:NewsProfiles">
NewsProfiles</A>.
For all of today's news, go to keyword <A HREF="aol://1722:News">News</A>.