Navistar International Corp. announced it received all regulatory approvals necessary to proceed with the previously announced merger with Dusk Inc., a wholly owned indirect subsidiary of Traton SE. The closing date is expected to be July 1.
Germany-based Traton is Volkswagen AG’s heavy-truck business.
VW purchased its stake in Navistar in 2017, eventually gaining control of 17% of Navistar and laying the groundwork for establishing a footprint in North America, the truck industry’s largest source of profits. In January 2020, VW made its bid for the rest of the company.