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Swedish Fund Ap1 Exits Volvo Cars As Sees No Ipo Around Corner

by reuters.com posted 3months ago 24 views
* Stake sale not at loss, AP1 says (Adds comments from AP1, AMF, Volvo, details): STOCKHOLM (Reuters) - Sweden’s national pension fund has sold its preference shares in Volvo Cars after concluding it saw no clear intention to list within the next 12 months from the Geely-owned carmaker. Volvo’s fortunes have turned since Geely bought it in 2010 and its popular new premium models now compete with larger rivals Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE), but its initial public offering plans stalled earlier this year.

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