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Volvo Truck Sells Stake in India’s Eicher Motors
AB Volvo is selling its remaining 1 million shares in India's Eicher Motors Ltd. for an estimated 2.3 billion kronor (€247 million), The Economic Times reports.
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AB Volvo is selling its remaining 1 million shares in India's Eicher Motors Ltd. for an estimated 2.3 billion kronor (€247 million), The Economic Times reports.
Volvo Trucks disposed of nearly 1.3 million shares in Eicher two months ago for 2.5 billion kronor (€267 million).
Volvo Truck bought the Eicher stake in 2008. The company said in April that selling the holding would have no effect on its 50% ownership of VE Commercial Vehicles Ltd. The venture was set up with the Indian company to make Eicher-branded commercial trucks and buses in India.
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