Volvo acquires further shares in Scania

VOLVO ACQUIRES FURTHER SHARES IN SCANIA Volvo has acquired a further 4,754,285 B shares in Scania. The shares have been acquired at a price of SEK 310 per share. Following the acquisition Volvo owns 25,290,660 A shares and 60,993,759 B shares in Scania, which corresponds to 28.5 percent of the voting rights and 43.1 percent of the share capital. After acquisition of the Scania shares which AB Volvo has agreed to acquire from Investor, Volvo will own 79,352,040 A shares and 62,502,452 B shares in Scania, which corresponds to 77.8 percent of the voting rights and 70.9 percent of the share capital. August 24, 1999 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/08/24/19990824BIT00100/bit0001.doc http://www.bit.se/bitonline/1999/08/24/19990824BIT00100/bit0002.pdf

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The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The headquarter is located in Gothenburg, Sweden.

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