Volvo Cars proposes to distribute 62.7% Polestar stake to shareholders

Volvo Car AB

23/02/2024 24:56

Feb 23 (Reuters) - Volvo Cars  VOLCARb.ST  said on
Friday it plans to distribute 62.7% of its stake worth 9.5
billion Swedish crowns ($920.17 million) in Polestar Automotive
Holding  A4N1y.F  to its own shareholders.
    After completion of the proposed distribution, Volvo Cars
said it will remain with an 18% stake in Polestar.
    
   ($1 = 10.3242 Swedish crowns)

 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sherry
Jacob-Phillips)
 ((rishabh.jaiswal@thomsonreuters.com;))