GKN raises cash to buy Volvo aero arm

Global engineering firm GKN said it had agreed to buy Volvo's aero engine division and would turn to institutional investors to raise money to help pay for it.

Global engineering firm GKN said it had agreed to buy Volvo's aero engine division and would turn to institutional investors to raise money to help pay for it.

The company plans to pay AB Volvo around £633m for Volvo Aero, which designs, engineers and manufactures components for aircraft engine turbines.

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