Ownership change in Volvofinans Bank AB (publ)
Through a press release (see below) issued Tuesday 29th December at 12:00, Volvo Cars announced its intention to acquire the Sixth AP Fund's shares in Volvofinans Bank. Through this acquisition, Volvo Cars wishes to ensure its long-lasting commitment to Volvofinans Bank, which is an important part of the company's service development.
Conny Bergström - Volvofinans Bank’s CEO - is pleased that Volvo Cars wants to increase its ownership in the bank. ”In its capacity as co-owner, Volvo Cars has actively helped to create the bank's action and strategy plans. Looking at the deal from a longer perspective, it strengthens our strategic niche position as ‘The Car Bank’, in that we have Volvo Cars - a very competent car maker on the up - now becoming half-owner. Furthermore, it also ensures that we can continue to create powerful financial offerings”.