Volvo, the Swedish manufacturer of construction machinery announced its intent to purchase more than 22 Million Deutz shares from the existing majority shareholder Same Deutz-Fahr. Subject to the necessary approval of the antitrust authorities, Volvo will hold 25% plus one share, and Same Deutz-Fahr approximately 8.4% of Deutz. This makes Volvo the largest shareholder of Deutz. At the same time, Same Deutz-Fahr announced its intent to continue its successful customer supply relationship and strategic partnership with Deutz.
"The acquisition of the shareholding underlines the fact that Volvo seeks to deepen its long-standing cooperation with Deutz and plans to further develop jointly with us the successful strategy of recent years," Dr. Helmut Leube, Chairman of the Board of Management of Deutz AG, comments. “We also look forward to continue the successful cooperation with our partner Same Deutz-Fahr."