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2016-10-21

Volvo: Volvo divests properties in Gothenburg

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
sales price amounts to SEK 2.7 bn on a debt free basis and the
divestment results in a capital gain of SEK 1.4 bn, which is expected
to impact the Group's operating income by the corresponding amount in
the fourth quarter of 2016.

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 Volvo Group will rent some of the
properties that are sold during a transitional period, pending the
completion of Campus Lundby.

The Group's operating cash flow and financial net debt will be
positively affected in the amounts of SEK 2.6 bn and SEK 2.3 bn,
respectively, in conjunction with the closing of the transaction,
which is expected to be carried out in the fourth quarter of 2016.

October 21, 2016

Journalists who would like further information, please contact Joakim
Kenndal, +46 765 537229

For more stories from the Volvo Group, please visit
http://www.volvogroup.com/press.

The Volvo Group is one of the world's leading manufacturers of trucks,
buses, construction equipment and marine and industrial engines. The
Group also provides complete solutions for financing and service. The
Volvo Group, which employs about 100,000 people, has production
facilities in 18 countries and sells its products in more than 190
markets. In 2015 the Volvo Group's sales amounted to about SEK 313
billion (EUR 33,4 billion). The Volvo Group is a publicly-held
company headquartered in Göteborg, Sweden. Volvo shares are listed on
Nasdaq Stockholm. For more information, please visit
www.volvogroup.com.

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http://news.cision.com/volvo/r/volvo-divests-properties-in-gothenburg,c2...
http://mb.cision.com/Main/39/2105778/578141.pdf

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