VOLVO Acquired Deutz, Weichai lost its opportunity
F-DIESEL 7/8/2012 6:28:30 PM
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For long time there has been the news that Weichai Cooperation would acquire Deutz Germany. However, Weichai will be disappointed for the negative result. Recently VOLVO made the announcement that they have signed the agreement with Deutz and acquired part of stock equity. Finally VOLVO will be the biggest shareholder with 25% proportion.
It is informed by VLOVL that they acquired around 22 million shares at Euro5.88/share from SAME Deutz-Fahr Group, which increased the Deutz share of VOLVO from 6.7% to 25%. After authorization of some related institution, VOLVO will become the biggest shareholder of Deutz.