By Katarina Gustafsson
Swedish truck maker Volvo AB (VOLV-B.SK) said Wednesday it has signed a deal to increase its ownership in German engine manufacturer Deutz AG (DEZ.XE) to over 25% from 6.7%.
According to the agreement, Volvo gets the right to purchase 22,117,693 shares from Same Deutz-Fahr Group at a price of EUR5.88 per share, making Volvo the largest shareholder in Duetz AG.
The agreement--which is expected to be concluded during the third quarter--is subject to a number of conditions, such as approval from competition authorities.
Volvo said the deal isn't expected to have a significant impact on its earnings or financial position.
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(END) Dow Jones Newswires
June 13, 2012 09:39 ET (13:39 GMT)
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