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Geely moves Closer to Owning AB Volvo. Chinese Company Owns the Car Brand and Is Buying Into the Truck Business.
China’s Geely Holding [GEELY.UL], owner of the Volvo car brand, is buying an 8.2% stake in Volvo (VOLVb.ST) from Cevian Capital. This is worth more than $3 billion at market prices. This makes Geely the biggest individual shareholder in AB Volvo and second ranked in terms of voting rights behind Swedish investment firm Industrivarden (INDUa.ST). Continue reading →