BERLIN (AP) -- Volkswagen AG said Thursday that it has completed the process of getting antitrust approval for its plan to take a majority voting stake in Swedish truck maker Scania AB.
Wolfsburg, Germany-based Volkswagen said it expects to move ahead with increasing its stake in Scania, a deal worth some $4.4 billion, on July 22.
Volkswagen agreed in March to buy the Scania stakes held by Investor AB and the Wallenberg foundations. The deal will see VW's share of voting rights increase to 68.6 percent from 37.98 percent.
VW said in a statement that, in addition to last month's approval by the European Commission, it had to go through a "large number" of antitrust proceedings in other countries across the world.
Volkswagen said that it "will fully consolidate Scania in the second half of the year."
"We are delighted that Scania will now become the group's ninth strong brand under the roof of Europe's largest automobile manufacturer," Volkswagen CEO Martin Winterkorn said.
Scania will retain its own corporate headquarters, its own culture and its own profile, he added.
Scania is based in Sodertalje, Sweden.