No more American-Swedish-Chinese automotive nail biting or rephrased press releases: Ford announced that it has reached a final agreement to sell Volvo and all the related assets to Geely.
The sale process is expected to be finalized in the third quarter of the current year and will follow customary closing conditions, including receipt of current regulatory approvals. Geely will pay Ford a total of $1.8 billion: the transaction will be initiated through a $200 million note of amount, with th… (read more)