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
Five more US bank failures bring total for 2009 to 120
New York - Bank failures in the United States have risen to 120 this year as five more regional institutions were added to the list, the US agency that guarantees the safety of bank deposits said. United Commercial Bank in San Francisco with assets o...
US stocks climb slightly despite double-digit jobless rate
New York - US stocks posted mild gains Friday to end the week as investors shrugged off government figures that put the unemployment rate above 10 per cent. The Labour Department said the jobless rate hit 10.2 per cent in the month of October, the hi...
US joblessness hits 10.2 per cent, highest in 26 years - Summary
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years as another 190,000 people lost their jobs, the Labour Department reported Friday. The figure comes after a 9.8-per-cent jobless rate in September and wa...
US joblessness jumps to 10.2 per cent, highest since 1983 - Update
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years, as another 190,000 people lost their jobs during the month, the US reported Friday. The figure reported by US Labour Department came after the 9.8 per ...
US jobless rate jumps to 10.2 per cent
Washington - The US unemployment rate surged to 10.2 per cent in October as another 190,000 people lost their jobs, according to US Labour Department figures released Friday. The jobless rate stood at 9.8 per cent in September. Unemployment had been ...
Bulls stop James, edge Cavs - Summary
Los Angeles - The King couldn't deliver in the clutch. Luol Deng and Joakim Noah combined to deny LeBron James a potential game-winning drive in the final seconds as and the visiting Chicago Bulls snapped the Cleveland Cavaliers' three-game winning...
Mortgage lender Fannie Mae posts nearly 19-billion-dollar loss
Washington - US mortgage lender Fannie Mae said Thursday that it would seek 15 billion dollars in federal aid, after posting its ninth consecutive quarterly loss. Fannie Mae reported a net loss of 18.9 billion dollars in the third quarter of 2009, co...
|
|
|
|
|
|
|
|
