Agreement signed between Volvo Car Corporation (”Volvo Cars”) and Sjätte AP-fonden

On  December 28th an agreement was signed between Volvo Car Corporation (”Volvo Cars”) and Sjätte AP-fonden, whereby Volvo Cars acquires 40% of the ownership shares in Volvofinans Bank AB (“Volvofinans”), Sweden’s leading bank within the car financing business.

As a consequence Volvofinans will be owned 50% by Volvo Cars and 50% by the Swedish Volvo trade through the company AB Volverkinvest. The deal will complete after necessary approvals have been obtained by the relevant authorities.