In $1.6B deal, Volvo Renault join forces
Sweden's AB Volvo and French car maker Renault SA will join together to create the world's second-largest manufacturer of heavy trucks in a deal worth $1.6 billion. Volvo will buy Renault's RVI truck division and its U.S. subsidiary Mack Trucks Inc. in exchange for a 15 percent stake in the Swedish firm, making Renault Volvo's biggest shareholder, the companies said Tuesday.
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