Tag: tribunal

By on August 30, 2015

Volkswagen and Suzuki agreed to establish a comprehensive partnership

Osamu Suzuki (middle right), chairman of Suzuki Motor Corporation, can finally celebrate his biggest win. After a failed alliance with Volkswagen put Suzuki — the chairman and company — on the back foot for almost four years, the International Court of Arbitration of the International Chamber of Commerce in London has decided in the Japanese company’s favor. Suzuki will purchase back their own stock from Volkswagen.

Suzuki received news of the ruling Saturday and filed the information with the Tokyo Stock Exchange on Sunday.

“It’s good that a resolution came. I feel refreshed. It’s like clearing a bone stuck in my throat,” said to reporters gathered at a news conference in Tokyo, reports Automotive News. “I’m very satisfied with the resolution. Through it, Suzuki was able to attain its biggest objective.”

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