(MENAFN) Swedish truck maker Volvo said it has completed the sale of its stake in Indian group Eicher Motors, but their joint venture is to continue, Oman Observer reported.
The outstanding shares in Eicher Motors generated approximately USD264 million, and will result in a capital gain of around USD250.44 billion, Volvo said in a statement.
The two firms in 2008 formed a joint venture, VE Commercial Vehicles, comprising Eicher Motors' truck and bus operations and the Volvo Group's Indian truck sales operations.
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