Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
3/28/2014 9:15:00 AM Write a Letter to the Editor Write a letter to the Editor

Volvo Group to Sell Real Estate in Europe


Kristian Helgesen/Bloomberg News

The Volvo Group said it has agreed to sell some of its commercial real estate in Europe in a move that will generate additional income for its global truck business and other operations.

The transaction, valued at about 2 billion Swedish kronor, or about $308 million, is expected to close in the second quarter, the company announced March 28.

Volvo said it expects the sale to raise operating income by 200 million kronor in its trucks segment and by 700 million in corporate functions during the second quarter.

The transaction covers real estate in Gothenburg, Sweden, that is owned by the Volvo Group and leased to outside tenants, as well as properties in Denmark, Sweden and Finland that will largely be rented by companies within Volvo Group.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2014, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement