How Much Stake Did Geely Acquire in Volvo?
1 Answers
Geely Holding Group acquired 100% of the shares of Volvo Car Corporation and related assets including intellectual property rights, with the transaction completed in the third quarter of 2010. Relevant information is as follows: Introduction: Today, Volvo is divided into two entities—Volvo Car Corporation and Volvo Group. Volvo Cars was once part of Volvo Group's passenger car business, but Volvo Car Corporation is now owned by Geely Holding, while Volvo Group operates independently. Agreement: In 1999, Ford Motor Company acquired Volvo Cars. On December 24, 2009, Ford Motor Company and Zhejiang Geely Holding Group—the parent company of Chinese automaker Geely Auto—reached a preliminary agreement on the sale of Volvo Cars.