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The Volkswagen Act is a set of German (originally West German) federal laws enacted in 1960, regulating the privatization of Volkswagenwerk GmbH into the Volkswagen Group. [1] In order to maintain government control in the privately owned company, it stipulated that the votes in major shareholder meeting resolutions require 4/5th (80% ...
The Commission claimed that the Volkswagen Act 1960 provisions on golden shares violated free movement of capital under the Treaty on the Functioning of the European Union article 63. The VA 1960 §2(1) restricted the number of shareholder voting rights to 20% of the company, and §4(3) allowed a minority of 20% of shareholders to block any ...
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A provision in the 1960 Volkswagen Act that privatized Volkswagenwerk GmbH into Volkswagen Group (AG; Aktiengesellschaft), stipulates 80% of shareholders are needed to pass any major decisions. Lower Saxony state has a voting share of 20.2%, ensuring a veto power on any major decisions. [ 25 ]
Patterned on the iconic Volkswagen T2 bus synonymous with 1960s counterculture, the ID. Buzz first debuted as a concept car at the Detroit motor show all the way back in January 2017 .
Volkswagen (VW; German ... On 22 August 1960, ... (EPA) issued a notice of violation of the Clean Air Act to German automaker Volkswagen Group. [51] ...
Sales were increasing slowly in the United States, but Volkswagen was battling against post-war anti-German sentiment for the car, which had been conceived under Adolf Hitler’s direction in 1934.
U.S. intensive chicken farming led to the 1961–1964 "Chicken War" with Europe. The Chicken Tax is a 25 percent tariff on light trucks (and originally on potato starch, dextrin, and brandy) imposed in 1964 by the United States under President Lyndon B. Johnson in response to tariffs placed by France and West Germany on importation of U.S. chicken. [1]
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