Volvo Buys Nissan Truck Division Stake
Nissan Motor is selling 13 percent of its 19 percent shareholding in Nissan Diesel Motor to Sweden’s Volvo for US$195 million.
In addition to the immediate sale, Volvo has an option to buy the remaining six percent share of the truck maker from Nissan within the next four years.
Volvo said the deal would beef up Volvo’s Asian strategy by providing the company with access to Nissan Diesel’s dealer and service network in Japan and Southeast Asia.
Volvo bought French automaker Renault’s heavy vehicle division in 2001.