07/07/2017 – News / Automotive / Deutz / Volvo / Germany / Sweden
AB Volvo sells entire stake in DEUTZ AG
Today, AB Volvo sold its entire stake in DEUTZ AG to institutional investors. The investment equated to approximately 25 per cent of DEUTZ shares. Those shares in DEUTZ AG are thus now in free float, increasing the overall liquidity of DEUTZ shares.
DEUTZ AG issued a statement emphasising that sale of the investment will have no impact on the “strong business relationship” the company has with AB Volvo – one which goes back many years. “We will continue to work together closely with Volvo and will remain an important supplier, particularly in the construction equipment application segment,” said Dr Frank Hiller, Chairman of the DEUTZ Board of Management. “Following the sale of the investment, we can focus on raising our profile as an independent manufacturer of innovative drive systems,” he added.
Established back in 1864, DEUTZ was the first engine manufacturer in the world, and is today the leading independent supplier in the premium segment.