AB Volvo sold its entire stake in Deutz AG to institutional investors, Deutz announced. The investment equated to approximately 25 per cent of Deutz shares. The shares in Deutz AG are thus now in free float, increasing the overall liquidity of Deutz shares.
The sale of the investment has no impact on the strong business relationship with AB Volvo, which goes back many years, Deutz said.
"We will continue to work together closely with Volvo and will remain an important supplier, particularly in the Construction Equipment application segment,” said Dr. Frank Hiller, Chairman of the Deutz Board of Management. “Following the sale of the investment, we can focus on raising our profile as an independent manufacturer of innovative drive systems."