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| Name | Symbol | Market | Type |
|---|---|---|---|
| Dongfeng Motor Group Company Ltd (PK) | USOTC:DNFGY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 14.65 | 13.67 | 15.23 | 53 | 21:04:24 |
From Jul 2019 to Jul 2024
By Gustav Sandstrom
STOCKHOLM--Swedish truck maker Volvo AB (VOLV-B.SK) Wednesday said the National Development and Reform Commission in China on Jan. 7 approved the establishment of a previously announced joint venture between the company and China's Dongfeng Motor Group Company Ltd. (0489.HK).
Additional authority approvals are to be obtained before completion of the deal, which is currently expected to take place in mid-2014, Volvo said.
Volvo in January last year announced an agreement with Dongfeng to acquire 45% of the Chinese vehicle maker's new subsidiary Dongfeng Commercial Vehicles, which will include a large part of its medium and heavy duty commercial vehicles business.
"At completion of the transaction, the Volvo Group will significantly strengthen its position in the medium-duty and heavy-duty truck segment," the company said Wednesday.
At 1238 GMT, Volvo shares were up 0.3% at SEK90.60, in line with the wider Stockholm market.
Write to Gustav Sandstrom at gustav.sandstrom@wsj.com; Twitter: @WSJNordics
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1 Month Dongfeng Motor (PK) Chart |
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