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Geely of China Completes Acquisition of Volvo

New York Times Original article ›

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Stefan Jacoby, a former head of VW USA, will be the new CEO of Volvo, after its acquisition with 100% ownership by Geely of China. Geely paid $1.3 billion cash for Volvo to Ford Motor, the original price was $1.8 billion but adjustments were made for retirement funds and working capital. Ford originally acquired Volvo for $6 billion. Ford has debt of $27 billion and will be able to reduce some of this debt wit cash from the Volvo sale.

Geely's acquisition of Volvo.

03/29/2010

Grouped Articles

Geely's Li Doubles Down on Volvo

Wall Street Journal 06/06/2013

Geely Hopes to Boost Volvo Globally

Wall Street Journal 03/29/2010

For Volvo, a New Life Under Chinese

Wall Street Journal 03/29/2010

Geely's Volvo Plans Take Shape

Wall Street Journal 08/27/2010

Volvo Trades on Swedish Heritage to Sell Cars

Wall Street Journal 12/26/2013

Volvo and Geely Develop a Subcompact Car

Wall Street Journal 01/27/2014


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