AB Volvo and Renault sign settlement agreement
AB Volvo and Renault sign settlement agreement AB Volvo and Renault have signed a settlement agreement regarding the disagreement the companies have had since 2001 pertaining to Volvo's acquisition of Renault VI/Mack. According to this settlement, Renault will transfer EUR 108 M to AB Volvo. According to the acquisition agreement in 2000, AB Volvo received 100 percent of the shares in Renault's truck subsidiaries, Renault V.I./Mack in exchange for 15 percent of the shares in AB Volvo, a transaction which has proved beneficial for both companies. Since then, AB Volvo and Renault have had