Volkswagen trucks Division is open to buying a majority share in Navistar

MUNICH, Germany (Reuters)-Volkswagen is open to buy a majority stake in American manufacturer Navistar trucks "at some point," said the company on Monday, at a time when the German automotive group gears up for a possible stock offering of its business with trucks.
Volkswagen Trucks bought Bus 16,9% & stake in Navistar International in 2016 and last week joined forces with Hino Motors, <7203.T>Toyota, to compete with global rivals Daimler and Volvo.
Volkswagen plans to convert your truck Division, which includes Scania and MAN, in a public company as a prelude to a potential stock offering.
"(Take control of Navistar) would make sense at some point," said Matthias Gruendler, financial Vice President of Volkswagen Trucks & bus, reporters on Monday.
Taking control would require between 3 billion and 4 billion in extra costs and can be supported by resources to be generated by an initial public offering (IPO) of shares, said the Executive, without estimating if was referring to dollars or euros.
"Cooperation (with Navistar) is working world well," he added.
Volkswagen paid 256 million dollars for the stake in Navistar, expanding access to the US market for the German group. </7203.T>