[新聞] Ford, Geely Agree on Volvo sale terms ， 描述： Ford has finally done it

carwing

Ford has finally done it - it has secured a deal to sell off its Volvo Cars division.
The Detroit-based automaker has drafted a deal with Chinese ZhejiangGeely Holding Group to buy the Swedish brand in the second quarter of2010. Ford has said that all the key terms of the deal have been agreedupon. But Geely still has to secure financing for the purchase andobtain approval from Chinese regulators.
Ford released a statement on the sale saying it would ensure Volvo'sfuture and that Ford will be focusing on its ONE Ford strategy ofstrengthening the brand's global presence.
With the sale Ford will not retain any ownership of Volvo but willcontinue to cooperate with the brand on certain projects, the companysaid.
For Geely Automotive, a subsidiary of the holding group, thepurchase provides it with advanced automotive technology and a valuableinroad into Western markets for a Chinese automaker.
Geely will be acquiring Volvo for an estimated $1.8 billion (1.26billion euros). Ford bought Volvo for $6.45 billion (4.5 billion euros)back in 1999.