15 January 2016
Gernandt & Danielsson advises the Sixth AP Fund
The Sixth AP Fund (AP6), the second largest shareholder in Volvofinans Bank since 2007, has decided to sell its shares to Volvo Car Corporation.
Volvofinans has for a long time been a leading player for the financing and management concept of car ownership in Sweden. In recent years, the company has helped to build an entirely new segment in the market through the launch of private leasing offers. For the period January–September 2015, Volvofinans Bank reported its best results ever. Profit before tax for the period amounted to SEK 298 million, which represents an increase of 12% compared with the previous year. The transaction is subject to approval from relevant authorities
G&D advises AP6 through a team consisting of Partners Dick Lundqvist and Fredrik Palm and Senior Associate Leo Lee.