(Yicai Global) Dec. 28 -- Chinese automaker Zhejiang Geely Holding Group Co., which owns the Volvo car brand, plans to buy an 8.2-percent stake in Swedish truck maker AB Volvo from European investor Cevian Capital.

The Gothenburg-based firm has sold 88.47 million class A shares and 78.77 million class B shares to Nomura International Inc. and Barclays Capital Securities Ltd., who will in turn sell these to Geely, per the agreement, China's Jiemian News reported without disclosing the purchase price.

The deal will see Geely become AB Volvo's largest shareholder with 15.6 percent of voting rights. The Chinese firm expects to take a seat on the board but has no plans to make changes to the company's development strategy.

AB Volvo is a world-leading manufacturer of trucks, buses, construction equipment, ships and industrial engines and sells to more than 190 countries and regions. It has almost 100,000 workers and has factories in 18 nations. The firm split from Volvo's car making division in 1999 when Ford Motor Co. took over the unit, which Geely purchased in 2010.