Industrivarden AB (INDUc.ST)
16 Mar 2018
STOCKHOLM Truckmaker AB Volvo is to drop the CEO of Geely-owned Volvo Cars from its board, in a first sign of fallout from the Chinese carmaker's swoop on Germany's Daimler .
* AB Volvo revises board proposal after Geely buys Daimler stake
* SAYS BOARD OF DIRECTORS PROPOSES A DIVIDEND OF SEK 5.50 PER SHARE (5.25).
STOCKHOLM China's Geely Holding , owner of the Volvo car brand, is buying an 8.2 percent stake in Swedish truckmaker AB Volvo from activist investor Cevian Capital, worth around $3.3 billion at current market prices.
STOCKHOLM China's Geely Holding [GEELY.UL], owner of the Volvo car brand, is buying an 8.2 percent stake in Swedish truckmaker AB Volvo from activist investor Cevian Capital, worth around $3.3 billion at current market prices.
* Buys stake from activist Cevian Capital (Adds quotes, updates share price)
STOCKHOLM, Dec 27 Activist investor Cevian Capital has agreed to sell its 8.2 percent stake in Swedish truck maker AB Volvo to China's Zhejiang Geely Holding Group, Cevian and Geely announced in a joint statement on Wednesday.
* Says net asset value on september 30, 2017, was sek 95.9 billion, or sek 220/share