December 27, 2017 / 7:38 AM / 3 months ago

China's Geely buys stake in Swedish truck maker Volvo from Cevian

STOCKHOLM, Dec 27 (Reuters) - Activist investor Cevian Capital has agreed to sell its 8.2 percent stake in Swedish truck maker AB Volvo to China’s Zhejiang Geely Holding Group, Cevian and Geely announced in a joint statement on Wednesday.

They did not disclose the value of the transaction, which makes Geely Volvo’s largest owner by capital and the second biggest by voting rights after investment firm Industrivarden .

Geely is also the owner of Volvo Cars. (Reporting by Johannes Hellstrom, editing by Terje Solsvik)

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