(Repeats without changes to additional alert)
STOCKHOLM Jan 22 Volvo said on
Wednesday a Chinese agency had approved a joint venture between
the world's number two truck maker and China's Dongfeng Motor
Group, but that more approvals were still needed.
Under the agreement with Dongfeng Motor Group Company
Limited (DFG) Volvo will buy 45 percent of a new subsidiary of
DFG which will include the major part of DFG's medium- and
heavy-duty commercial vehicles business.
Volvo said China's National Development and Reform
Commission, a macro-economic administrative agency, had approved
the deal, but that more authorities also had to approve it.
"Completion is subject to certain conditions including the
approvals of other Chinese authorities, which have not yet been
obtained," Volvo said in a statement, adding it expected the
deal to be completed mid 2014.
(Reporting by Sven Nordenstam; editing by Niklas Pollard)