Volvo completes sale of UD Trucks to Isuzu Motors as part of a new strategic alliance
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By Jim Gibbins - 8th April 2021
Sweden / Japan - The Volvo Group of Gothenburg, Sweden has completed the previously announced sale of its Japanese truck and bus subsidiary, UD Trucks Ltd of Ageo, Saitama to Isuzu Motors Ltd of Tokyo, Japan for an enterprise value of JPY243bn (approximately SEK19bn / EUR1.86bn) on a cash and debt free basis.
The transaction forms part of a new commercial vehicle strategic alliance agreed between the Volvo Group and Isuzu Motors, which is aimed at capturing opportunities in the ongoing industry technology transformation.
