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Volvo car to go to Geely
South Africa News.Net
Friday 25th December, 2009
The Ford Motor Company Volvo unit is likely to be sold to China’s Geely.
Ford has said it expects a final deal in the first quarter of 2010, with commercial terms relating to the potential sale of Volvo to be settled.
Work on financing remains to be completed, and the deal will only go through subject to appropriate regulatory approvals.
Geely has said its negotiations with Ford deepened in October and that it had also held talks with Volvo’s management and Swedish union and government officials.
Ford acquired Volvo in 1999 for $6.45 billion.  Email this story to a friend
Comments on this story
Anonymous
12-25-09, 11:35 AM |
Volvo being sold to China’s Geely
Now the car brand will be called Chilvo and Volvo. No matter what you do they own the company and they have the control and the blessing of the Chinese goverment.So if an official of the company made a mistake ,goes of your head or bullet between your eyes.They do not take no shits.They mean business.
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