Roger W. Gilroy |
Volkswagen Truck & Bus, a unit of Volkswagen AG, has purchased nearly 300,000 additional shares of stock in Navistar International Corp., adding to its multimillion-share stake, according to Navistar’s filings in mid-July with the Securities and Exchange Commission.
The transactions — totaling 293,038 shares — occurred from July 17 through July 25, with prices listed in the filings at about $29 per share, Navistar reported.
Both companies did not immediately respond to a request for comment.
On March 1, Navistar International Corp. and Volkswagen’s Truck & Bus division completed their alliance, announced last September, with the German automotive company acquiring 16.2 million common shares, or 16.6% of equity, and Navistar getting $256 million.
The value of the latest transactions amounts to about $8.5 million, according to the filings.
Lisle, Ill.-based Navistar International Corp. manufactures and markets medium- and heavy-duty trucks, school buses, midrange and heavy-duty diesel engines, and service parts. The company also provides financial services to its dealers and customers.