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Volvo sells stake in Deutz AG for EUR200m

Published 10 July 2017

The Volvo Group has sold its stake in German engine manufacturer Deutz AG for SEK1897m (EUR200.64m).

Divestment proceeds amount to SEK 1,897 M, corresponding to SEK 62.73 per share (EUR 6.50). The sale will result in a capital gain of approximately SEK 350 M that will impact operating income in the third quarter of 2017. 

Volvo Group has sold 30,246,582 shares, corresponding to 25% of total shares in Deutz. The sale will have a positive impact on Group cash flow and the net financial position in the Industrial Operations in an amount of SEK 1,897 M. The capital gain will be reported in the segment "Group functions and Other".

The Volvo Group is one of the world's leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 95,000 people, has production facilities in 18 countries and sells its products in more than 190 markets.

In 2016 the Volvo Group's sales amounted to about SEK 302 billion (EUR 31,9 billion). The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on Nasdaq Stockholm. 

Source: Company Press Release