Volvo buys Nissan Diesel truck maker
|
| Posted
:
Tue, 20 Feb 2007 20:13:59 GMT |
| By
:
Business News Editor |
| Category
:
US (Business) |
| News Alerts by
Email ( click
here ) |
|
|
|
|
|
TOKYO, Feb. 20 Japanese truck maker Nissan Diesel Motor Co. said Tuesday it accepted a billion-dollar buyout from Sweden's Volvo Group.Volvo will make Nissan Diesel a subsidiary, the companies said.Volvo has owned 19 percent of Nissan Diesel after buying Nissan Motor Co.'s 13 percent in 2006. Nissan Motor divested the truck maker to focus on lighter vehicles.Volvo has meanwhile concentrated on trucks, after selling its auto division to the Ford Motor Co. in 1999.Tuesday's deal will let the combined company increase its investment in research and development to meet tighter vehicle-emissions regulations that go into effect in the United States, Japan and much of Europe in the next three years, Volvo said.Nissan Diesel said the offer represented a 32 percent premium on the company's average price on the Tokyo Stock Exchange over the past three months.The Swedish company said it would pay for the purchase with cash and by taking on debt.Copyright 2007 by UPI
|
|
|
|
|
|
Related News
US economists: 'Jobless' recovery to reach bottom at start of 2010
Washington - The US economy will start adding jobs some time in the first quarter of 2010, ending a so-called jobless recovery that has plagued the world's largest economy since the summer months, according to a survey released Monday. But the Nati...
Hershey, Nestle, sweeten war for Cadbury
Washington - Hershey and Nestle are expected to jump into the war over Cadbury sweets, media reports said Saturday, just weeks after the British-based stalwart rejected a hostile bid by US Kraft Inc. The growing market for chocolate in the developing...
US stock drop slightly on Dell profits, mixed for week
New York - Technology and energy shares pushed US stocks lower Friday, capping a mixed week for investors amid unease about the pace of the world's economic recovery. Tech stocks slid after a disappointing earnings report from computer giant Dell, wh...
GM: Opel restructuring plan by mid-December; cuts up to 25 per cent
Washington - US carmaker General Motors will present a new restructuring plan for its European operations by mid-December, Nick Reilly, the new head of GM Europe, wrote on his new blog Friday. While the details were still being hashed out, Reilly war...
US stock sell-off on fears of weak recovery
New York - US stocks followed global markets in a broad decline amid investor fears over the world's uneasy recovery from recession. Major US stock indices fell about 1 per cent on average, following hefty declines in the DJ Euro Stoxx 50 and Japan's...
US leading economic indicator gains 0.3 per cent
Washington - A key measure of US economic performance gained in October, according to a private research group Thursday, signalling that a broader recovery may be taking hold. The New York-based Conference Board's Leading Economic Index added 0.3 per...
US stocks fall slightly on technology earnings
New York - US stocks posted modest losses Wednesday on poor profit forecasts from technology firms and a surprising dip in home construction. Earnings from Salesforce.com and Autodesk were worse than expected. Other technology shares losing ground in...
|
|
|
|
|
|
|
|
