VW's Audi Unit Agrees to Buy Lamborghini

Bloomberg News

Volkswagen's Audi unit said it agreed to buy Italian sports car maker Lamborghini, in another step by Europe's largest car maker to upgrade its image a week after buying Rolls-Royce. The German auto maker did not disclose terms of the purchase, but analysts estimated Lamborghini's worth at as much as $111 million. Audi said the companies hope to close the deal in a few weeks. Lamborghini which makes sports cars selling for more than $250,000, is 60% owned by companies controlled by "Tommy" Suharto, son of former Indonesian President Suharto. MyCom Berhad, a Malaysian financial company, controls 40%.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
64°