Volvo sells remaining holding in the listed Indian company Eicher Motors Limited6/4/15
As previously communicated, on March 4, 2015, the Volvo Group sold 1,270,000 shares in Eicher Motors Limited (EML) with a total value of approximately SEK 2.5 billion. The share divestment in EML has no impact on ownership or control of the Indian truck and bus manufacturer, VE Commercial Vehicles (VECV), in which the Volvo Group will remain as owner. Since 2008, VECV has been owned by EML and the Volvo Group and is currently the third largest manufacturer of commercial vehicles in the Indian market. India is a key market and the Volvo Group will continue to focus on developing and strengthening VECV as part of the Group’s strategy to expand in Asia and in other emerging markets.
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