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Deutz to launch rights issue

Same Deutz-Fahr, the Italian tractor maker, has agreed to take up shares in an unusual €68.7m ($78.8m) rights issue for Deutz, the German engine manufacturer, in order to dilute the stakes held by Deutsche Bank and Volvo, the Swedish car maker.

A spokesman for Deutz said Deutsche Bank and Volvo have agreed not to exercise their subscription rights in the share issue, and Same Deutz-Fahr will buy as many of the new shares as possible.

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