Volvo stock slips on talk of linkup with Navistar

Article Abstract:

AB Volvo's shares dropped due to speculation that the Swedish commercial-vehicle maker is involved in takeover talks with Navistar International Inc. of the U.S. Volvo's stock fell to 219.5 kronor ($27.66), down two kronor, on the Stockholm Stock Exchange. Navistar, a truck and bus maker, shares rose 6% to $35.25 at the New York Stock Exchange. Volvo has been in constant talks with other truck manufacturers, and company officials say that includes players from across the globe.

United States, Truck and bus bodies, Motor Vehicle Body Manufacturing, Truck, Bus & Other Vehicle Bodies, AB Volvo, Navistar International Corp., NAV

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Pact moves Renault toward control of Dacia

Article Abstract:

The government of Romania and Renault SA have reached an agreement on the sale of state-owned Automobile Dacia SA. Under the terms of the agreement, Dacia will not have to pay taxes on its earnings for five-years from the date that the company begins to make profits. The tax exempt status will not last for more than eight years. Dacia will also be exempted from paying imported spare parts duties. Renault is planning to invest up to $80 million in the company in 1999. Financial terms were not revealed.

Comment:

Romanian govt and Renault reach agreement on the sale of state-owned Automobile Dacia

Foreign operations, France, Romania, Motor Vehicles & Parts, Transportation Equipment Manufacturing, Motor Vehicles and Equipment, Abstract, Regie Nationale des Usines Renault, Automobile Dacia S.A.

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