SWEDEN - Swedish automotive financing company AB Volvofinans has been at the centre of a deal featuring the Sixth Swedish National Pension Fund (AP6), Ford Credit International (FCI) and the country's Volvo dealerships.
The deal involves a change of ownership structure for AB Volvofinans and means AP6 will purchase 40% of the shares of the company.
Currently, AB Volvofinans is jointly owned by the Swedish Volvo dealerships via their investment company AB Volverkinvest and FCI.
After the transaction is completed, Volverkinvest will continue to hold 50% of the shares, AP6 will hold 40% and FCI will keep 10%.
The transaction is subject to approval from the Swedish Financial Supervisory Authority and the Swedish Competition Authority.
Speaking to Global Pensions about the deal, FCI said it saw AP6 as a great strategic partner which wanted to see AB Volvofinans grow.
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