Volvo (VOLVY.PK) CEO Olof Persson said the company plans to invest about $692 million in India over the next few years. With demand slackening across Europe, and uncertainty in North America, the company obviously wants to take advantage of the opportunity arising from India’s huge investments in the infrastructure sector, estimated up to $1 trillion. The amount of the investment would be split between Volvo’s own operations and its joint venture with India’s Eicher Motors Ltd.
Streaming music service Spotify has completed a new round of financing worth $100 million, with 10% being chipped in by Coca-Cola (NYSE:KO). The latest round of financing values Spotify at about $3 billion.
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A joint bid by Apollo Global Management (NASDAQ:APO) and Guggenheim Partners to acquire buy Aviva Plc U.S. life insurance and annuities unit is said to be the likely winner, though Philip Falcone’s Harbinger group is also in the reckoning. According to Aviva’s Chief Financial Officer Pat Regan, the sale would likely be at a significant discount to the unit’s book value, not counting debt, of about £2.4 billion.