The Traton Group has successfully closed its merger with Navistar. It now holds all Navistar common shares, and Navistar will be delisted and deregistered with the SEC.
“Today is a sensational day for the Traton Group and for our new colleagues at Navistar joining the global TRATON family,” said CEO Matthias Gründler in a prepared statement. “From this day on, we will be working side by side to bring sustainable transportation of the future one step closer. This is something the entire group is looking forward to.”
Said Navistar president/CEO Persio Lisboa in a statement:
“Over the past five years, Navistar and the Traton brands have worked very well together and it is exciting to become now part of the global Traton Group. Our common understanding of the future of transportation and our joint heritage create a very solid basis for our common way forward. The transport industry is changing rapidly. And together we will shape this change—for the sake of our customers. The Navistar team is ready for the next step of collaboration.
A strategic alliance has been in place between the two companies since 2017, with both partners benefiting from the considerable value generated by enhanced purchasing power and the integration of new technologies. As a new brand of the Traton Group, Navistar will be in a better position to meet the growing requirements of the market and to improve its customer offering even further, especially with respect to the transition to electric mobility and the establishment of autonomous driving, according to the company.
Other Traton brands include Scania, MAN, Volkswagen Caminhoes e Onibus, and RIO. The purchase price for Navistar was approximately $3.7 billion.
