Volvo's stake buy
Source: Agencies |
January 28, 2013, Monday
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Print Edition
Print Edition
SWEDISH truck maker AB Volvo says it will acquire 45 percent in a new heavy-truck unit of China's Dongfeng Motor Group Co for 5.6 billion yuan (US$890 million). Volvo says the stake purchase in Dongfeng Commercial Vehicles was part of "a clear strategy" to become the world's largest maker of heavy-duty trucks. He said on Saturday the purchase may be done within a year.
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