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BRIEFLY / AUTOMOTIVE

VW's Audi Unit Agrees to Buy Lamborghini

June 13, 1998|Bloomberg News

INGOLSTADT, Germany — 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%.

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