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07/31/20
Ingolstadt
Company

Audi Annual General Meeting votes on squeeze-out

From left: Peter Kössler (Member of the Board of Management for Production and Logistics), Sabine Maaßen Member of the Board of Management for Human Resources and Organization), Arno Antlitz (Member of the Board of Management for Finance and Legal Affairs) – Audi e-tron Sportback 55 quattro - Markus Duesmann (Chairman of the Board of Management and Board of Management Member for Technical Development and Product Lines at AUDI AG), Hildegard Wortmann (Member of the Board of Management for Sales and Marketing), Dirk Große-Loheide (Member of the Board of Management for Procurement and IT)
  • CEO Markus Duesmann: “We are positioning ourselves competitively throughout the Volkswagen Group and lifting Group synergies and economies of scale to a new level.”
  • CFO Arno Antlitz: “Audi has very good preconditions to master the transformation over the long term.”
  • The Annual General Meeting is to vote on the transfer of the remaining Audi shares to the majority shareholder Volkswagen AG (a so-called squeeze-out under stock corporation law)
  • Corona pandemic: The 131st Annual General Meeting of AUDI AG is to be held as a virtual meeting to protect the health of shareholders. 

A more efficient division of labor and increased Group synergies – as part of the reorganization of competencies within the Volkswagen Group, today’s Audi Annual General Meeting will also vote on a so-called squeeze-out under stock corporation law. This will result in the transfer all the Audi shares of the remaining shareholders to Volkswagen AG, which already holds 99.64 percent of the share capital of AUDI AG. The Audi Board of Management would like to thank the shareholders for their trust and loyalty. The planned structure is intended to strengthen Audi’s role within the Volkswagen Group and to increase the future competitiveness of the Volkswagen Group.

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