On January 6, the Volvo Group issued a statement saying that it has completed the acquisition of a 45% stake in China Dongfeng Commercial Vehicle Co., Ltd., with a transaction amount of RMB 5.51 billion. As early as January 2013, Volvo Group has reached an agreement with Dongfeng Motor Group to acquire a 45% stake in Dongfeng Commercial Vehicle, a subsidiary of the latter, including Dongfeng's most heavy-duty commercial vehicles and medium-sized commercial vehicles. The acquisition has already obtained China. Approved by relevant agencies. In 2013, the sales volume of heavy trucks in the Chinese market was 774,000, and that of medium-sized trucks was 286,000. Among them, Dongfeng commercial vehicles accounted for 15.6% and 17.8% of the two markets, with sales reaching 35 billion yuan and operating profit of 9.5 billion yuan. After the completion of the acquisition, the Volvo Group and Dongfeng Commercial Vehicles will form an associated company, and the financial reports of the truck business will be merged from January this year. The Volvo Group said in a statement that the funds paid by the acquisition will have an impact on the cash flow of the Volvo Group in the first quarter of 2015, resulting in a financial liability of approximately 7 billion Swedish kronor (about 5.51 billion yuan).
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