Volvo ups stake by 6% in Nissan Diesel

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Swedish auto giant, Volvo AB, would be buying out a 6% stake in Nissan Diesel Motor Co. from Nissan Motor Company, the second largest auto maker in Japan. Post deal, Volvo will have a total stake of 19% in Nissan Diesel. Earlier, in March 2006, Volvo became the largest shareholder in Nissan Diesel after buying 13% stake in the company at a discount of 14%. This move, which saw Volvo shell out $553 million, was a part of the agreement made during the previous deal , wherein both the companies had agreed to grant Volvo an option to pick 6% in four years time.

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Source : IIPM Editorial, 2006

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