Folksam boosts ownership in Volvo Cars while AP1 divests

Ownership of the traditionally Swedish carmaker is changing shape as two of the country's biggest pension funds make investment moves.

Photo: Folksam

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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