(Adds word ‘off’ in headline)
OSLO (Reuters) – Swedish truck maker AB Volvo has called off its deal to buy JMC Heavy Duty Vehicle from China’s Jiangling Motors Co because the closing conditions were not met, it said on Friday.
The proposed deal, worth about 1.1 billion Swedish crowns ($108.35 million), was announced by Volvo and Jiangling in 2021.
Volvo Trucks will continue to export trucks to customers in China, the company said.
(This story has been refiled to add the word ‘off’ in the headline)
($1 = 10.1526 Swedish crowns)
(Reporting by Terje Solsvik; editing by David Goodman)
