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Cevian Capital completes the divestment of its entire shareholding in AB Volvo

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  • Cevian Capital has today completed its divestment of its entire shareholding in AB Volvo to Nomura International Plc ("Nomura") and Barclays Capital Securities Limited ("Barclays").
  • Nomura and Barclays have committed to sell the AB Volvo shares to Zhejiang Geely Holding Group ("Geely Holding"), following the receipt of necessary regulatory approvals. 

On 27 December 2017, Cevian Capital announced the agreement to divest its entire shareholding in AB Volvo to Nomura and Barclays following the receipt of necessary regulatory approvals. The divestment comprises 88.47 million A-shares and 78.77 million B-shares, corresponding to 8.2 per cent of the capital and 15.6 per cent of the votes[1].

Following the receipt of approval from the German Federal Cartel Office, Cevian Capital has today completed the divestment of its entire shareholding in AB Volvo to Nomura and Barclays.

Nomura and Barclays have committed to sell the AB Volvo shares to Geely Holding, and Geely Holding has committed to acquire the shares following the receipt of necessary regulatory approvals. 

[1] Per cent refers to outstanding shares excluding treasury shares.

Media contact:

Hallvarsson & Halvarsson
Johan Ramsten
+46 70 971 12 85
johan.ramsten@halvarsson.se

About Cevian Capital

Cevian Capital is the largest and most experienced activist fund manager in Europe. It invests only in European public companies. It manages c. USD 16 billion of long-term capital for c. 450 pension funds, endowments, foundations, sovereign wealth funds and other investors from North America, Europe and other regions.

As a constructive activist, Cevian Capital’s strategy is to help its companies become better and more competitive over the long term, and to earn its return through an increase in the real long-term value of the companies. Cevian Capital regularly becomes a reference or anchor shareholder, and its professionals often join company boards. Its professionals currently serve on the boards of nine portfolio companies in six different countries.

Cevian Capital is a long-term investor and its investments have an average holding period of c. five years. It is a major owner of some of the largest industrial companies in Europe, including ABB, Ericsson and ThyssenKrupp.

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