Hottest Volvo acquires 45 shares of Dongfeng Comme

Volvo's acquisition of 45% equity of Dongfeng Commercial Vehicle Co., Ltd. was completed at 5.51 billion yuan. Nearly two years after reaching the acquisition intention, on January 5, Volvo Group and China Dongfeng Commercial Vehicle Co., Ltd. released a news at the same time that Volvo had completed the acquisition of 45% equity of Dongfeng Dongfeng Commercial Vehicle Co., Ltd., a subsidiary of Dongfeng, at a transfer price of 5.51 billion yuan

the relevant person in charge of Dongfeng Motor Group said that the listing and transfer of 45% equity was carried out according to the agreement signed last year, and the receiver locked in Volvo Group. According to the plan, Dongfeng Motor Group holds 55% shares and Volvo Group holds 45% shares in Dongfeng commercial vehicles. Both sides are committed to building the most competitive commercial vehicle alliance in the world

in January last year, Dongfeng Motor Group signed an agreement with Volvo, which plans to purchase 45% of the equity of Dongfeng Motor's subsidiary responsible for medium and heavy commercial vehicles at a price of 5.608 billion yuan. In January this year, Hungarian researchers used new technology to process waste plastic into a new type of synthetic material. This kind of synthetic material can be used for paving after being mixed with asphalt in proportion, which can increase the firmness of the road surface and reduce the appearance of rolling marks. LVO said that it is a kind of equipment with good stability, and the China Development and Reform Commission has approved the agreement. The listing and transfer of equity means that the integration of Dongfeng commercial vehicles has made substantial progress

Dongfeng Commercial Vehicle Co., Ltd. was incorporated in January 2013 with a registered capital of 9.2 billion yuan at that time. As a large state-owned enterprise, Dongfeng Motor Group Co., Ltd. holds 100% of its equity. The listing information shows that at present, the number of employees of the company is as high as 28000. In 2013, Dongfeng commercial vehicle achieved an operating revenue of 19.1 billion yuan and a net profit of 340 million yuan; In the first six months of 2014, the company's operating revenue exceeded that of last year, reaching 19.6 billion yuan, and its net profit nearly tripled to 910 million yuan. Taking December 31st, 2013 as the base date for appraisal, the book value and appraisal value of the company's net assets were 9.6 billion yuan and 10.58 billion yuan respectively. The corresponding appraisal value of the subject matter of this transfer was 4.76 billion yuan, and the listing price premium was 13.6%

with good performance, Dongfeng Motor Group has offered many conditions to the transferee. Dongfeng Motor Group said in the listing information that in order to promote the development of the target enterprise, the transferor will urge its subsidiary Dongfeng Motor Finance Co., Ltd. to provide auto finance services for the target enterprise only in 2000. The intended transferee must agree that the target enterprise will maintain a special deposit of no less than 4.5 billion yuan in Dongfeng Motor Finance Co., Ltd. for auto finance during the joint venture period. At the same time, the transferee shall provide technical support to the target enterprise to help it build a world-class advanced commercial vehicle technology center and commodity planning system, as well as an overseas manufacturing system that meets the overseas strategic needs of the target enterprise; Support the maintenance of the control system: regularly check whether the connecting line of the rear panel of the controller is in good contact with the target enterprise, continuously modify and upgrade the product platform of medium and heavy commercial vehicles, and build a modular and standardized product platform; Support the target enterprises to build a global supplier platform with global qcdd (quality, cost, delivery time and development capability) competitiveness

in addition, in order to avoid horizontal competition in the Chinese market, when the intended transferee submits the transfer application, in addition to the transferor, the intended transferee and its holding subsidiaries do not have any equity cooperation in China in the development and manufacture of complete medium and heavy trucks and/or diesel engines for medium and heavy trucks in China