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The Buyers of Volvo Aero is revealed

Wednesday, 28 March 2012
The British engineering company GKN is likely to buy Volvo Aero within the coming month reports Bloomberg News late on Tuesday afternoon, referring to people familiar with the matter.

GKN is said to be the sole remaining bidder in the battle for Volvo Aero, according to Bloomberg News, when other potential buyers withdrew from the bidding process.

Volvo and GKN are expected to sign a preliminary agreement in two weeks to reach a final agreement a few weeks later, according to Bloomberg News.

GKN said in the beginning to have offered 800 million pounds, Skr8.5 billion for Volvo Aero Drive, but the final price is expected to be slightly lower than that.

Spokespeople for both parties declined to comment.
Volvo announced in November that the company had embarked on a process to sell Volvo Aero.
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