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China's Geely acquires Cevian's 8.2% stake in Swedish truck maker Volvo

Geely is also the owner of Volvo Car Group

Reuters  |  Stockholm 

China’s Geely Holding , which already owns the Volvo Car Group, is buying an 8.2 per cent stake in Swedish truck maker AB Volvo from activist investor Cevian Capital for around $3.3-billion.   Volvo Car Group was split from AB Volvo almost 20 years ago and Geely said it was not its current intention to try to reunite the two businesses.   “Given our experience with Volvo Car Group, we recognise and value the proud Scandinavian history and culture, leading market positions, breakthrough technologies and environmental capabilities of AB Volvo,” Geely ...

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First Published: Thu, December 28 2017. 03:14 IST
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