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Volvo finalizes Eicher Motors JV deal

World number two truck maker Volvo said on Friday it had finalized a deal with Eicher Motors to set up a new joint venture company in India.

Volvo said in a statement that the 50% stake in the venture was consolidated in the group as of Aug. 1. The Volvo Group, which does not include the Ford Motor Company - owned car division, was to pay 1.95 billion Swedish krona ($308 million dollars), the group said in a statement. (Reuters)