Skip to main content

Cevian Capital Sells Volvo Shares To Geely Holding

In an agreement announced today, Cevian Capital has agreed to sell its entire shareholding in AB Volvo (“Volvo” or the “Company”) and Zhejiang Geely Holding Group (“Geely Holding”) has committed to acquire the shares following necessary regulatory approvals. The acquisition of AB Volvo shares comprises 88.47 million A-shares and 78.77 million B-shares, corresponding to 8.2 per cent of the capital and 15.6 per cent of the votes, which represents the largest ownership in AB Volvo by capital and the second largest by votes[1]. Nomura International Plc and Barclays Capital Securities Limited have agreed to acquire Cevian Capital’s shares in AB Volvo and committed...