View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 26, 2010

CHINA: Geely-Volvo deal nears

Sources in China suggest that the pending deal for the divestment by Ford of its Volvo Cars unit to Geely could be close to completion.

Sources in China suggest that the pending deal for the divestment by Ford of its Volvo Cars unit to Geely could be close to completion.

Chinese Vice President Xi Jinping is due in Sweden this weekend and that could coincide with an announcement. High ranking Xi  is due to arrive in Stockholm on Saturday for a four-day visit, state Xinhua news agency reported.

The visit comes after the chairman of China’s Zhejiang Geely Holding Group, Li Shufu, told the Wall Street Journal last week that he expected to complete the deal to acquire Volvo by the end of the month as planned.

Some reports in China say that the deal will be announced on March 28 in Stockholm with a press conference held in Beijing two days later.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto