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Article: Ford Confirms Geely as its Preferred Bidder for Volvo Cars.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Ford Motor Company [NYSE: F] announced that a consortium led by Zhejiang Geely Group Holding Co. Ltd. is its preferred bidder in the ongoing discussions concerning the possible sale of Volvo Car Corporation.
Ford said that while it will be engaging in more detailed and focused negotiations with Geely, no final decisions have been made.
"Ford's objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties," said Lewis Booth, Ford Motor Company executive vice president and chief financial officer. "Any prospective sale would have to ensure that Volvo has the resources, including the capital investment, ...