Volvo's 6.5 Billion Dollar War Chest
It could be the defining deal of his career: Volvo CEO Leif Johansson's sale of the company's car division to Ford Motor Co. for $6.5 billion is making waves in Sweden, where Volvo has long been considered a national icon. And its ramifications are likely to be felt throughout the European auto industry. Now, industry watchers are waiting for Johansson, 47, to make his next move. Many expect him to use the cash from the sale of the car unit to finance a takeover of Swedish truckmaker Scania. But that means clashing with the Wallenbergs, Sweden's No. 1 corporate family, whose Investor holding company controls Scania. Johansson spoke with BUSINESS WEEK's London bureau chief, Stanley Reed, about the Volvo shakeup.
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