Volvo Group Real Estate AB, a subsidiary within the Volvo Group, is selling Sörred Energi AB to Göteborg Energi AB for SEK 279 M. The transaction generates a capital gain of about SEK 200 M for Volvo.
Sörred Energi’s operations involve providing energy, electricity networks, hot water, compressed air, water and sewage services and to own and manage the facilities required for production and distribution within the Torslanda area. The company’s customers are primary Volvo Car Corporation and AB Volvo with subsidiaries.
On the condition that the agreed terms of the transaction are fulfilled, the parties expect that the transaction will be concluded in the beginning of June 2007.
May 14, 2007
For further information, please contact Mårten Wikforss, +46 31 66 11 27 or +46 705 59 11 49