Volvo diverts properties
Commercial vehicle manufacturer the Volvo Group has signed an agreement with the real estate company Platzer Fastigheter Holding AB regarding the sale of properties in the areas of Arendal, Torslanda and Säve in Gothenburg, Sweden. The divestment is part of a long-term plan to gather the majority of Volvo Group office workers in Gothenburg in an area that will be called Campus Lundby. The Group’s operating cash flow and financial net debt will be positively affected in the amounts of SEK 2.6 billion and SEK 2.3 billion, respectively, in conjunction with the closing of the transaction, which is expected to be carried out in the fourth quarter of 2016.
Tags : INTERNATIONAL