Ford, Geely Settle Terms On Volvo Deal

Law360, New York (December 23, 2009, 5:11 PM EST) -- Ford Motor Co. said Wednesday it had settled all the substantial commercial terms of a deal to sell off its Volvo Car Corp. unit to China's privately owned automotive group Zhejiang Geely Holding Group Co. Ltd.

The companies anticipate inking a definitive sale agreement in the first quarter of 2010 and could close the sale in the second quarter of the year, according to an announcement from Ford.

“The prospective sale would ensure Volvo has the resources, including the capital investment, necessary to further strengthen the...
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