Volvo takeover DEUTZ
Date:2012-06-19 Author:Eric Source:www.chinatrucks.com
www.chinatrucks.com: On June 14th, 2012, Volvo group announced that they had sign the agreement with DEUTZ and hold the 25% equities of DEUTZ became the largest shareholder.
The president of Volvo group said that to takeover the DEUTZ is a part of expend the cooperative in the commercial medium engine program.
The data shows that the DEUTZ was founded in 1864, and it is the oldest independent engine manufacturer, the engine mainly used in engineering machinery, commercial vehicles and so on.
Volvo group said that they buy the more than 22 million shares and the price is 5.88 euros per share from the DEUTZ. Now the shareholder became 25%, and through the related agency approval, the Volvo Group had became the largest shareholder.
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