Volvo Rents plans new debt financing for purchase by Platinum Equity

By Sara Rosenberg

New York, Dec. 10 - Volvo Rents' buyout by Platinum Equity is conditioned on a successful debt offering being made to finance the transaction, according to a news release.

Volvo Rents is being acquired from Gothenburg, Sweden-based Volvo Group for about $1.1 billion.

Closing is expected in the first quarter of 2014, subject to regulatory approval and other conditions.

Volvo Rents is a provider of small-to-medium sized rental equipment.

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