Suzuki Motor Corp. said Thursday it started arbitration procedures over its partnership with Volkswagen AG as the domestic carmaker seeks to buy back its shares after declaring an end to their 2-year-old cooperation agreement.
The arbitration will take place at an international court in London, Hamamatsu, Shizuoka Prefecture-based Suzuki said in a statement to the Tokyo Stock Exchange.
The carmaker said Nov. 18 it had terminated the partnership with Wolfsburg, Germany-based Volkswagen and is demanding the German automaker sell back its 19.9 percent stake in Suzuki.