Dec 20 (Reuters) - Geely-owned Volvo Car Group:
* Says has raised SEK 5 billion from the sale of preference shares to a group of Swedish institutional investors
* Says today’s move is another step towards Volvo Cars’ long expressed ambition to act as a listed company
* Says the preference shares may be repurchased or converted into listed ordinary shares upon the majority shareholder’s decision. At this time, no decision has been taken.
* Says the issuance has been conducted to further diversify Volvo Cars’ long term funding sources
* Says the group of investors comprises two swedish pension funds, AMF and the first swedish national pension fund (AP1), and Folksam
* Says it intends to set up a joint venture with Autoliv
* Says the JV aims to design and manufacture separately-branded ad and driver assistance software technology packages for sale to third party OEMs (Stockholm Newsroom)