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Volvo: Volvo Group to divest commercial real estate

Companies in the Volvo Group have signed an agreement to sell
commercial real estate to companies jointly owned by Hemfosa
Fastigheter AB and AB Sagax, and to companies owned by AB Sagax. The
purchase consideration, on a cash and debt free basis, is expected to
be approximately SEK 2 bn. At the time of completion of the
transaction, net financial debt in the Volvo Group's Industrial
Operation is expected to be reduced by approximately SEK 1.9 bn. The
transaction is expected to have a positive impact on the Group's
operating income of approximately SEK 900 M in the second quarter of
2014. Completion of the transaction is subject to approval from the
Swedish Competition Authority.

The transaction covers to a large extent real estate in Gothenburg
owned by the Volvo Group and leased to external tenants. The Volvo
Group has decided to sell the real estate as it has been deemed not
strategic for the Volvo Group to continue as landlord and owner. The
transaction also includes properties in Denmark, Sweden and Finland,
where the real estate to a large extent will be rented by companies
in the Volvo Group.

The transaction is expected to have a positive impact on operating
income in the segment "Trucks" of SEK 200 M and in the segment "Group
functions, corporate functions and other" of SEK 700 M in the second
quarter of 2014.

The transaction is expected to be closed in the second quarter of

March 28, 2014

Journalists who wish further information, please contact Karin Wik, +
46 31 323 72 29

For more news from the Volvo Group, visit

AB Volvo (publ) may be required to disclose the information provided
herein pursuant to the Securities Markets Act and/or the Financial
Instruments Trading Act. The information was submitted for
publication at 08.30 am CET, March 28, 2014.


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