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China’s Geely to acquire Volvo for estimated $1.8 billion
Chinese carmaker Zhejiang Geely has reportedly acquired Volvo, Ford’s Swedish unit…
December 23, 2009 4:12 by kippreport
Chinese carmaker Zhejiang Geely has reportedly acquired Volvo, Ford’s Swedish unit, for an estimated $1.8 billion, reports Reuters. The deal is expected to be finalized by mid-2010.
“Further discussions will focus on finalization of documentation and financing, as well as government approvals,” Geely said in a statement.
The deal would be Chinese carmaker’s biggest overseas deal to date.