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Volvo Sold to Geely for $1.8 Billion

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Volvo Sold to Geely for $1.8 Billion

Posted March 30 2010 09:34 AM by RimZ
Filed under: Industry News, Ford, Coupes, Geely, Volvo, Sedans, Midsize

FORD AND GEELY have today announced a binding agreement on the sale of Volvo, which will see the Chinese carmaker buy the Swedish brand from Ford for nearly AU$1.98 billion dollars - roughly a third of Ford's original buyout of Volvo in 1999.

Ford Chief Financial Officer Lewis Booth told press today that the US carmaker considered the sale a "fair price for a good business"...

Read more inside The Motor Report

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