Volvo buys stake in Asian truck manufacturer

Europe

Monday, January 28, 2013

Volvo has agreed to acquire 45 percent of a Donfeng Motor Group (DFG) subsidiary that manufactures medium- and heavy-duty vehicles for RMB 5.6 billion. DFG had partnered with Nissan Motors on the medium- and heavy-duty operation, Donfeng Commercial Vehicles, before recently purchasing it outright. The transaction is subject to regulatory oversight, and both parties hope the deal can be consummated by January 2014. Volvo sold 180,000 trucks in 2011, while D...

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