LONDON, June 7: British engineering group Vickers Plc said on Friday that shareholders had voted to accept a 430 million pounds ($703 million) offer for Rolls-Royce Motor Cars from Volkswagen AG, confirming earlier indications from proxy votes.Vickers said in a statement that VW provided a parent for the British luxury car-maker with the engineering capability, resources, brand expertise and global reach to match BMW AG, whose rival bid of 340 million pounds was rejected."This deal, therefore, is a win for our shareholders, a win for Vickers, and a win for Rolls-Royce Motor Cars and its employees," said chairman Sir Colin Chandler.Shareholders will receive a capital return of 273 million pounds following the sale, which is expected to be completed in early July. For Vickers, the sale marks a significant step in concentrating on its core businesses if propulsion and defence.VW, which hopes to source engines for Rolls-Royce cars within Britain, on Thursday bought Vickers' Cosworth engine unit for120 million pounds via its Audi AG car company.The board of Vickers rejected a late 460 million pound bid by Crewe Motors, a group of enthusiasts. Directors said the offer lacked financial details.
