Prior to the start of the takeover bid, Volvo, second only to DaimlerChrysler AG in the world's truck industry, owned 19 per cent of Nissan Diesel. The Japanese maker's capital alliance with Nissan Motor Co completely dissolved last year. Volvo has said the acquisition of Nissan Diesel is aimed at strengthening its eco-friendly technology and operations in fast-growing Asian countries. Volvo and Nissan Diesel predict achieving synergy worth about 200 million euros ($A331.5 million) annually in the next five years, such as through joint procurement of auto parts and sharing of sales networks.