Cevian Buys into Volvo Trucks
The investment fund Cevian says it has taken a 5 percent voting stake in Volvo trucks.
That makes the fund the second largest owner of the world’s number two truck maker, after Renault. The news came after weeks of speculation that Volvo could be the subject of a bid, or face shareholder pressure to increase dividends.
The company is holding more than 4.4 billion dollars in cash.