This week’s deal of the week is a buyout of Volvo’s equipment rental unit to Platinum Equity, a US private equity fund manager for USD 1.1 billion. The information we used to spot the deal is from Thomson Reuters.
Volvo, which competes head to head with Germany’s Daimler, is reportedly going through a restructuring process to improve the bottom line globally. Besides passenger cars, Volvo makes construction equipment, buses and engines as well as trucks, according to the report. The sale is part of its strategy to “focus on core business” and to cut debt.