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. Below are the relevant details: Volvo: Currently, Volvo is divided into two entities: Volvo Car Corporation and Volvo Group. Volvo Car was once part of Volvo Group's passenger car business, but now Volvo Car Corporation is owned by Geely Holding, while Volvo Group operates independently. Ford Motor's Acquisition of Volvo Car: Ford Motor acquired Volvo Car in 1999 and reduced its stake in 2008. On December 24, 2009, Ford Motor and Zhejiang Geely Holding Group, the parent company of Chinese automaker Geely Automobile, reached a preliminary agreement for the sale of Volvo Car.