Volvo completes purchase of Nissan Diesel

When the acceptance period for Volvo’s offer for Nissan Diesel expired on March 23, Volvo had received a total of slightly more than 96 % of the shares outstanding. Volvo paid a total of SEK 7.4 billion for the slightly more than 77% of the shares outstanding that were purchased through the offer. During the second quarter, Volvo intends to initiate a process to redeem the remaining shares outstanding. In conjunction with this, Volvo intends to apply to delist Nissan Diesel from the Tokyo Stock Exchange.

Completion of the transaction required the approval of the anti-trust authorities in the US and South Africa. Volvo has received approval from the American authorities and expects to also receive approval in South Africa at the end of May and will not carry out a takeover in South Africa until the company has received such an approval. Nissan Diesel is consolidated in the balance sheet of the Volvo Group as of the close of the first quarter of 2007. Sales and earnings will be reported from the beginning of the second quarter. Operations within Nissan Diesel will be reported within the Trucks segment.
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