Sweden's AB Volvo announced it had sold its 25% stake in German diesel engine maker Deutz AG as the truck maker continued to trim assets outside its core business.
Volvo said in a statement that proceeds from the sale, which was carried out through a bookbuilding process, amounted to 1.9 billion Swedish crowns ($225 million) and would generate a capital gain of about 350 million crowns.
As part of a push to boost profits at the sprawling group, Volvo has been shedding peripheral businesses in recent years.
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