Two bidders line up for Volvo armoured trucks unit
July 18, 2017
Aerospace & Defence | Velizy Villacoublay, France | Corporate Acquisition
Volvo's armoured-vehicle manufacturer, Renault Trucks Defense, has attracted the attention of two potential bidders, per Reuters. Defence business CMI and tank-maker KNDS are expected to submit offers of around €500 million each prior to the July 24 deadline, according to the report. RTD is a part of Volvo's governmental sales business, which was put on the block by the vehicle giant in November as part of plans to consolidate and focus on organic growth.