Volvo Selling Remaining 3.7% Stake in Eicher Motors for $278 Million

Hong Kong/Mumbai: Swedish truck maker Volvo AB is selling its remaining 3.7 per cent stake in Indian auto firm Eicher Motors, in a deal that could be valued at around $278 million, according to a term sheet seen by IFR. Volvo is offering about 1 million shares in a price range of Rs 17,190-18,190 in an open market sale. Eicher shares closed at Rs 18,191.15 on Wednesday. In March, Volvo had sold 1.27 million Eicher shares for around...