Suzuki dumps VW stake

Suzuki, which holds a 1.5% stake in VW, is offloading its shareholding to Porsche.

The shares will be transferred to the Porsche purse on Wednesday, local time.

Suzuki became a shareholder in VW as part of a joint venture agreement around small, fuel efficient cars.

VW also got shares in Suzuki, with the Japanese manufacturer going arbitration to try and regain the holding after cancelling the agreement.

Suzuki paid up last week to get its own shares back from the German giant after VW was order to resell them by the London Court of International Arbitration.