Volvo is selling a 75.1% stake in its fully-owned subsidiary WirelessCar to VW. The disposal price is SEK1.1bn, which translates into the above profit, i.e. the company currently shows negative equity. The transaction is expected to be finalised in H1 19. The subsidiary provides connected vehicle services and solutions to global producers of passenger cars as well as commercial vehicles. By keeping a minority stake, Volvo will continue to have access to the know-how and it will continue to fo
19 Dec 2018
SEK1.5bn profit from disposal of majority stake in WirelessCar
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SEK1.5bn profit from disposal of majority stake in WirelessCar
Volvo AB Class B (VOLVB:PRA) | 0 0 1.2% | Mkt Cap: 328,497m
- Published:
19 Dec 2018 -
Author:
Hans-Peter Wodniok -
Pages:
2
Volvo is selling a 75.1% stake in its fully-owned subsidiary WirelessCar to VW. The disposal price is SEK1.1bn, which translates into the above profit, i.e. the company currently shows negative equity. The transaction is expected to be finalised in H1 19. The subsidiary provides connected vehicle services and solutions to global producers of passenger cars as well as commercial vehicles. By keeping a minority stake, Volvo will continue to have access to the know-how and it will continue to fo