Wallenbergs interested in Swedish cars again?

This is a story with an historic Saab link.

Investor AB, the investment company primarily owned and controlled by the Wallenberg family in Sweden, were instrumental in the establishment of Saab as an avaition company back in the 1930s. Out of that company came the car company we all know and love, which was sold off in two stages by the Wallenbergs with GM finally gaining 100% control of Saab Automobile in 2000.

It seems that the Wallenbergs, who still control one of the biggest financial empires in Europe, are interested in getting back into Swedish cars again. But not Saabs this time:

Volvo could return to Swedish ownership after one of the country’s wealthiest families became the Ford subsidiary’s latest suitor.

The Wallenberg family controls Investor AB, a publicly quoted Swedish investment conglomerate which already owns an 11 per cent stake in truck maker Scania.

Investor AB is understood to be considering a bid as part of a consortium of investors for Volvo Cars, owned by the US-based Ford. Unions would welcome Swedish ownership, which could give it an advantage over other foreign-led bids.

Ford are still insisting that Volvo is the only member of PAG that isn’t on the block, but as one of the contributors to this report notes, the sheer number of sale stories concerning Volvo in the last few months would tend to indicate that there’s definitely something going on.

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Thanks Alan!

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2 Comments

  1. It has ben put in the press that the deal is very unlikely to happen. Investor already is invested heavely in Scania and they have trouble defending their majority share their.

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