AP6 will purchase 40 percent of the shares of Volvofinans. Currently it is jointly owned by the Swedish Volvo dealerships, via their investment company AB Volverkinvest, and FCI. After the transaction is completed, Volverkinvest will continue to hold 50 percent of the shares, with AP6 holding 40 percent and FCI holding 10 percent.
The transaction is subject to approval from the Swedish Financial Supervisory Authority and the Swedish Competition Authority.
All parties gave their strong endorsement of the new investment arrangement.
About AB Volvofinans
AB Volvofinans is one of Sweden's largest automotive financing companies, lending approximately 24 billion SEK at year-end 2006. Its wholly owned subsidiary, Volvofinans Konto AB, provides vehicle-related credit cards. More than 1 million Volvo cards are in circulation, making it is one of the most widely distributed cards in Sweden.
AP6 was founded in 1996 and is a public pension fund based in Gothenburg. The mission is to invest in swedish growth companies to create value for the swedish pensioners. Up to date the fund capital amounts to appr. 19 billion SEK. So far AP6 have invested in appr. 250 swedish companies.
About Ford Credit International
Ford Credit International is a unit of Ford Motor Credit Company, LLC, one of the world's largest automotive finance companies. Established in 1959, Ford Motor Credit is an indirect, wholly owned subsidiary of Ford Motor Company. Ford Motor Credit provides automotive financing for Ford, Lincoln, Mercury, Jaguar, Land Rover, Mazda and Volvo dealers and customers.
Bert Björn, President Volvofinans: +46 703 710 220
Erling Gustafsson, President AP6: +46 708 741 002
Christopher Makin, Director, Public Affairs, Ford Motor Credit: +44 1277 692720