Volkswagen (OTC: VWAGY) said a Volkswagen Osnabrück sale could proceed under a framework agreed with the state of Lower Saxony and Aurelius Capital. The automaker said the proposal remains subject to further steps and does not represent a completed transaction. Independent verification of the announced framework and its terms was not immediately available.
Under the proposed structure, Aurelius would become the majority owner of the operation, while Lower Saxony would participate in taking over the site. Volkswagen said the plan is designed to support the factory’s long-term future.
Volkswagen Osnabrück Sale Plan Centers on Defense Production
The parties envisage repositioning the facility as a hub for security and defense-related work, according to Volkswagen. A potential initial project would involve cooperation with Rafael Advanced Defense Systems and could include manufacturing air-defense components for customers in Germany and elsewhere in Europe.
Volkswagen did not provide financial terms, a timetable for closing, or details on required approvals in the supplied information. It was also unclear whether the planned Rafael project has been finalized. The Volkswagen Osnabrück sale therefore remains a proposal rather than a completed change in ownership.
