China’s Geely takes €3.25bn stake in truckmaker Volvo Group

The Chinese owner of Volvo Cars is to become the biggest shareholder of truckmaker Volvo Group, in a potentially historic realignment between the two Swedish automotive businesses.

Zhejiang Geely will pay about €3.25bn to Cevian Capital, Europe’s largest activist investor, for an 8.2 per cent stake in the truckmaker, which comes with 15.6 per cent of the voting rights.