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TAKEOVER

Nissan buys Swedish truckmaker

Japanese company Nissan Forklift has acquired family-owned Swedish truckmaker Atlet, based in Mölnlycke outside Gothenburg.

The deal is said to be worth 1.5 billion kronor ($213), business news site Di.se reports. Atlet’s CEO Marianne Brismar refused to comment on the purchase price.

“We have decided that it should be confidential. What I can say is that it was fair reward for 50 years’ work,” she told news agency TT.

Atlet employs around 1,000 people – 400 in Sweden – and has a turnover of 1.7 billion kronor. The company was founded in 1958 by Knut Jakobsson, whose family still runs the company.

The purchase is not expected to entail any restructuring plans.

“We have a registered buyer that is trustworthy and has a long term perspective. There are no plans to relocate production – Nissan has bought a going concern,” said Marianne Brismar.

She added that Atlet had previously received other takeover bids but had been reluctant to sell.

Atlet’s product range includes pallet trucks, stackers and other vehicles used for storage.

TAKEOVER

Scania bosses made pre-bid shares purchases

Two top Scania bosses made substantial shares purchases in the Swedish truck making company three weeks before majority owner Volkswagen made its take-over bid.

Scania bosses made pre-bid shares purchases
Scania CEO Martin Lundstedt. File photo: TT

Business daily Dagens Industri (DI) reported on Tuesday that CEO Martin Lundstedt bought a large number of shares on January 30th, several weeks before the offer was made. If the Volkswagen bid were to be accepted, Lundstedt would make 1.7 million kronor in profit, DI calculated.

Also finance head Jan Ytteberg bought shares on the same day to the tune of a half million profit in case of a successful German take-over. 

Due to their standing and insight into the company's affairs, Lundstedt and Ytterberg must by law report any changes to their shares portfolio to Sweden's Financial Supervisory Authority (Finansinspektionen – FI). 

"If you have insider information you cannot act based on that information regardless of whether you report the transaction to us or not," trade survey unit head Johan Allstrin told the TT news agency on Tuesday.

Any criminal probe, however, would be instigated by the Swedish police's financial crimes division.

As rumours were already swirling that Volkswagen would try to up its stake in the Södertälje-based company, some observers said they were surprised the two top managers would even ponder making such shares purchases. 

"It's remarkable that such high-level bosses dared go in and trade," net broker Avanza spokesman Claes Hemberg said about the the case. "They probably did not know about the bid, as then they wouldn't have had the courage to do so, but they should have been thinking long-term." 

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