China’s Geely to Buy Ford’s Volvo in Record Overseas Auto Deal
http://www.bloomberg.com/apps/news?p...Gu40d7oY&pos=1
March 29 (Bloomberg) -- Zhejiang Geely Holding Co. agreed to buy Volvo Cars from Ford Motor Co. for $1.8 billion in the biggest overseas acquisition by a Chinese automaker.
The price includes a $200 million note and the remainder to be paid in cash, Ford Chief Financial Officer Lewis Booth said yesterday in Gothenburg, Sweden. Time spent on seeking regulatory approval in different jurisdictions means the companies now aim to complete the deal in the third quarter, Geely Chairman Li Shufu said. The carmakers had previously given a projection for second-quarter completion.
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March 29th, 2010 01:09 PM #1
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March 29th, 2010 01:46 PM #2kasunod nito.. reverse engineer Volvo.. then come up with Chinese brand... hmm... kung nagkataon...
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Tah Meng Roy
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March 29th, 2010 06:16 PM #3Why would they need to reverse engineer? They bought the technology along with the company.
Originally Posted by wowiesy
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March 30th, 2010 12:56 AM #4honga naman kanila na yun e...
saw this news yesterday at TFI...pakinig ko sa anchor Cherry...Geely pala..
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Originally Posted by wowiesy
Chekwa na pag nagkataon image ng Volvo, wala ng prestige.
