Swedish pensions and insurance group Folksam has expanded its ownership in Volvo Cars, the Chinese-owned company with Swedish roots. Folksam says it acquired further preferred stocks in Volvo Cars for a nominal value of SEK 750 million (EUR 72 million) in late December.
The acquisition took place in conjunction with Sweden’s First AP Fund (AP1) -- one of the country's national pension buffer funds -- selling its holdings in Volvo Cars, a statement from Folksam confirms.
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