Cevian raises stake in Volvo to 10.5 percent of votes
STOCKHOLM (Reuters) - Activist fund Cevian Capital said on Monday it had bought 25 million A-shares in AB Volvo (VOLVb.ST), the world's second biggest truck maker, to put its stake at 10.5 percent of votes.
Cevian's investment vehicle in Volvo, Violet Partners, held 6.7 percent of votes in the truck maker as of the end of September, according to Volvo's website, making them the second biggest owner after Industrivarden (INDUa.ST) which holds 20 percent.
The acquisition had raised Cevian's ownership to 68.7 million A-shares and 29.8 million B-shares, corresponding to 4.6 percent of the share capital in Volvo.
(Reporting by Niklas Pollard)
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Radar showed missing plane may have turned back: Malaysia military
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Malaysian plane presumed crashed; questions over false IDs |
- Merkel raps Putin as Russian forces tighten grip on Crimea |