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Review of Geely's acquisition of Volvo

07-08-2010 09:05 BJT

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Geely's acquisition of Volvo from Ford Motors has been heralded as a breakthrough for China's auto industry. It gives one of its most ambitious automakers a well-known, prestigious global brand and access to top-tier technology.

Volvo is Sweden's iconic car brand. Geely first proposed the acquisition of Volvo, to Ford in January 2008. Then as the US auto industry crisis deepened, Ford decided to sell and focus on its core brands.

Last October, after hampering other international competitors, Geely was designated as the preferred bidder. Three months of negotiations ensued. The two sides signed the deal this March, under which Geely would pay 1.8 billion U.S. dollars in exchange for all shares in Volvo.

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Editor:Xiong Qu |Source:

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