Scania still wants to buy Northvolt's 'crown jewel' despite bankruptcy
Truck giant Scania didn't have time to complete its acquisition of Northvolt's "crown jewel" division – Northvolt Systems Industrial – before the battery manufacturer filed for bankruptcy. But Scania tells Impact Loop it still wants to proceed with the deal. <br>"Our intentions to buy remain unchanged," Scania spokesman Erik Bratthall says.
Just three weeks ago, Scania confirmed that the company had reached an agreement to buy Northvolt Systems Industrial, the subsidiary that's been called Northvolt's "crown jewel."
But the deal wasn't completed before Northvolt's bankruptcy became a reality, leaving the acquisition up in the air.
"We didn't have a 'closing' before we were forced into this," Peter Carlsson, founder and former CEO of Northvolt told Impact Loop on Wednesday.
Still wants to buy
Scania now says it still intends to go through with the acquisition.
"From Scania's perspective, nothing changes and our intentions to buy remain unchanged. Now the legal processes must take their course and then a decision will be made regarding Systems," Scania's press chief Erik Bratthall tells Impact Loop.
On Wednesday, Peter Carlsson was unwilling to comment on the acquisition as a court-appointed trustee will handle Northvolt's bankruptcy process.
"I don't want to comment on how that process will go, because it now lies with the trustee and obviously with Scania. So I actually can't answer that," he told Impact Loop.
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