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Article: F0RD TO BUY VOLVO CARS pounds 3.89 billion merger
- Article from:
- Evening Mail
- Article date:
- January 28, 1999
CopyrightCopyright 1999 Evening Mail. Provided by ProQuest LLC. (Hide copyright information)
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FORD has struck a deal with Sweden's AB Volvo to buy its Volvo
Cars division for pounds 3.89 billion, it announced today.
The deal comes as part of a wave of mergers and takeovers among
car companies as they battle to deal with over-capacity in the
market.
It follows speculation earlier this month that the US giant was
lining up a bid for Rover parent group BMW.
The claim was later denied by the German group amid mounting fears
over the future of Rover if a deal was agreed with Ford.
Volvo said in a brief statement today that the sale would allow
the company to concentrate on its other operations, which include
trucks, buses and aircraft and marine engines. Both firms will now
have joint ...