AB Volvo has completed the previously announced transaction whereby the company increases its shareholding in Deutz from 6.7% to just over 25%. In total, AB Volvo has acquired 22,117,693 shares from Same Deutz-Fahr Group for an amount of EUR130m (US$167m). The transaction makes AB Volvo the largest shareholder in Deutz.

Deutz has been a strategic supplier of medium duty engines to the Volvo Group for more than a decade. Earlier this year, AB Volvo and Deutz signed a non-binding memorandum of understanding with the intention to explore the potential to extend the companies’ long-term cooperation through joint development of the next generation of medium-duty engines for off-road applications. The memorandum of understanding also aims at analysing the conditions for establishing a joint venture in China for the production of medium-duty engines for off-road applications.

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The transaction is not expected to have any material impact on the Volvo Group’s earnings or financial position.

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