CBS Investment

Chinese automobile corporation Geely Automobile Holdings has reached a preliminary agreement in buying Volvo from the American company Ford Motor Co. According to Chinese media, the value of the transaction will be no less than $ 3 billion. In case of success Geely will model Volvo XC90 at a factory in Guangzhou. According to expert opinion, the acquisition of Volvo will allow Geely to strengthen its positions in the markets of China and Europe.

Reports on the proposed sale of Volvo appeared last year. A number of buyers claimed for the Swedish company, most likely of which were automobile corporations of China and the consortium of European investors. Geely said earlier that it wanted to gain access to technology and the dealer network of Volvo.