Trucking giant MAN plans to reach agreement with Abu Dhabi's International Petroleum Investment Company (IPIC) fund over industrial services company Ferrostaal 'as soon as possible', said a report citing its chief executive Georg Pachta-Reythofen.

After a breakdown of relations between the two parties, IPIC has shown a willingness to negotiate, Pachta-Reythofen told German weekly Frankfurter Allgemeine Sonntagszeitung.

'We will hold constructive talks. Nobody can live with the current situation,' Pachta-Reythofen was quoted as saying on Saturday.

MAN has been trying to offload its remaining 30 per cent stake in Ferrostaal to IPIC following the sale of a 70 per cent stake to the fund in 2009.

But an unresolved bribery scandal involving contracts to supply submarines to Greece and Portugal has held up a deal.

When MAN tried to sell the 30 per cent to IPIC via a put option in early 2010 the sovereign wealth fund refused, due to the bribery investigation, and later on sought to annul the original purchase agreement.

At the time, IPIC also rejected an offer by MAN for an out-of-court cash settlement.

The MAN chief said that business in the current year is exceeding expectations and it expects to make 150,000 trucks this year, 80,000 in Germany and a further 70,000 in Brazil.