Volvo Group (ABVolvo) and the DEUTZ (DEUTZAG) signed an agreement, from the German Cup by Mai DEUTZ - hands at a price of 5.88 euros per share to acquire 22,117,693 shares Farr Group (SAMEDeutz-FahrGroup), it The shares held by Deutz Corp. rose from the previous 6.7% to 25%. After the approval of the relevant competition authorities and compliance with a number of other conditions, the transaction will be officially completed and the Volvo Group will become the largest shareholder of DEUTZ. “Deutz is an important supplier and partner for us for a long time,†said Europson, President and CEO of Volvo Group. "Acquisition of DEUTZ's shares is also part of our plan to expand commercial midsize engines." Earlier this year, the Volvo Group signed a non-binding memorandum of understanding with Deutz to work together on long-term cooperation to explore the development of a new generation of mid-sized engines for off-highway applications. The memorandum of understanding also analyzed the possibility of setting up a joint venture in China to produce medium-sized engines for off-road use. The transaction is expected to be completed in the third quarter of this year, but it will not have any real impact on the earnings and financial status of the Volvo Group. The stock price on the date of this transaction negotiation is set at 5.88 euros per share (equivalent to the average price of the stock price for the previous three months) and an additional 12% bonus. Volvo Group previously held 8,097,754 shares of Deutz Corp., accounting for 6.7% of its shares.
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