Volvo AB, based in Sweden, announced this week that its divestiture of Volvo Rents was completed Jan. 31. The sale to Platinum Equity, valued at $1.1 billion, is expected to have a positive impact on the company’s cash flow and net financial debt within the industrial operation in the first quarter of 2014.
Volvo said all employees of Volvo Rents will remain with the company as it is sold. Volvo Construction Equipment will continue to sell products to Volvo Rents under the new ownership.
Volvo Rents is No. 7 on the RER 100.