EU Gives Antitrust Blessing To Volvo, Geely Deal

Law360, New York (July 6, 2010, 1:43 PM EDT) -- The European Union's antitrust regulator on Tuesday approved Zhejiang Geely Holding Group Co. Ltd.'s $1.8 billion bid to purchase Volvo Car Corp. from Ford Motor Co. in conjunction with the Chinese government-owned investment firm Daqing State Asset Operation Co.

The deal has been cleared under the EU Merger Regulation, as the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it, the European Commission announced.

The commission’s examination of the proposed transaction showed that the horizontal overlaps between...
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