Volkswagen Shells Out $267 Million to Buy Audi Completely

It may surprise you to learn that until very recently, Volkswagen didn’t own 100% of Audi. It owned 99.64% of Audi. It may also surprise you to learn that VW was willing to pay 237 million euros (roughly $267 million) to buy up that last 0.26% of Audi.

But it has and now owns exactly 100% of Audi, which is one of its profit drivers and will be among the leaders developing electric and autonomous technology within the empire.

Volkswagen really wanted to complete the deal because, according to Reuters, they agreed to pay nearly 50% above market value for the shares. I guess when you own the last sliver of a company, you have some leverage.

Audi shares were estimated at 1,050 euros apiece on Tuesday and VW agreed to pay 1,551.53 euros per share. No word on who the owners were, but their investment advisors were undoubtedly pleased.

The transfer will be passed at Audi’s next AGM, which is expected to take place in July or August.