Volvo to increase stake in Deutz
Featured in26 June 2012 - 17:08
Swedish construction equipment manufacturer to become single largest shareholder in Deutz AG
VOLVO have announced their intention to purchase more than 22 million Deutz AG shares from the existing majority shareholder Same Deutz-Fahr.
Subject to the necessary approval of the anti-trust authorities, Volvo will hold 25% plus 1 share, and Same Deutz-Fahr approximately 8.4% of Deutz.
The deal will make Volvo the largest shareholder of the German engine manufacturer.
At the same time, Same Deutz-Fahr have announced their intention to continue their successful customer supply relationship and strategic partnership with Deutz.
‘The acquisition of the shareholding underlines the fact that Volvo seeks to deepen its long-standing co-operation with Deutz and plans to further develop jointly with us the successful strategy of recent years,' commented Dr Helmut Leube (pictured), chairman of the board of management of Deutz AG.
‘We also look forward to continuing the successful co-operation with our partner Same Deutz-Fahr.’