News reports in Sweden suggest Renault may be preparing to sell its shares in the global truck manufacturer Volvo. A Swedish holding company Industrivarlden is reported to be interested in purchasing the Renault stake.
“If Renault wants to sell its shares, we would be interested in taking some of them,” said Sverker Martin-Lof, Industrivarlden Chairman, as quoted in Swedish financial daily newspaper Dagens Industri. The news created interest in the share market, listing the Volvo Group’s share price.
Renault currently owns 21% of the global truck enterprise as a result of the deal done when Volvo took over the Renault truck division, including Mack Trucks, 10 years ago. At the same time, Industrivarlden holds 8.5% of Volvo at this time and would look to grow this holding substantially.
