Geely "sprint" was exploded into Volvo's only bidder
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The battle to acquire Volvo has entered the final sprint.
"Daily Economic News" as early as June of this year will be the country's exclusive publication of "Geely purchase Volvo is still underway, and is the only company reported to the National Development and Reform Commission", and today, Geely is really the most promising Adhere to the only Chinese company at the end of this acquisition war.
Geely submits Volvo bid book
Yesterday, it was reported that Geely Automobile had officially submitted a bid for the Ford's Volvo brand. This is the only company that has officially submitted a bid. Another source said that Ford will announce the list of companies entering the final purchase negotiations next month.
It is reported that the trading price of Ford's sale of Volvo is approximately 20 billion Swedish kronor to 25 billion Swedish kronor (approximately RMB 2.725 billion to 3.154 billion yuan, or 17.27.98 billion yuan to 21.5966 billion yuan, based on the exchange rate yesterday). Geely will acquire a majority stake in Volvo with SEK 15.6 billion (approximately US$1.9715 billion, RMB 13.477 billion). Geely has hired the UK's Rothschild Investment Bank to complete a comprehensive report on Volvo's future development framework. Many former Volvo managers, including former chairman of Volvo PehrGGyllenhammar and former president Hans-Olov Olsson, all participated in Volvo's future development through the investment bank.
"I was in a meeting and I did not understand the relevant circumstances." When the reporter of the "Daily Economic News" called Geely Automobile News Center Director Chen Fangming to verify the news, he did not receive a positive reply.
Can you withstand Ford quotes as key
However, many sources confirmed Geely’s efforts to acquire Volvo. In April of this year, Ford completed an assessment of Volvo. The case of selling Volvo to Chinese companies through investment banks shows that Geely, Changan, Chery, and BAIC have all become rumored Volvo car bidders. However, with the successive rumors and withdrawals of several of these companies, there has been no further progress in the recent Beiqi bid. Geely has become a “single seedling†for domestic companies to fight alone.
It is reported that the main reason for Ford to sell Volvo is the operating loss caused by the financial crisis. The only three American auto companies that have not fallen into the quagmire of bankruptcy protection have yet to escape the shadow of losses. According to Ford Motor's first-quarter financial report this year, Ford Motor had a net loss of $1.4 billion in the quarter.
With the improvement of Ford's operating conditions, Ford may raise the psychological price of the $2 billion it had sold for Volvo, which also adds many variables to the acquisition of Volvo by auto companies including Geely.
According to Sina Finance, John Fleming, President and CEO of Ford Motor Europe, also said in an interview with local media that the company did not plan to retain part of its Volvo car division and is currently in the fourth quarter. Selling the Volvo sector as a goal. It also said that Ford Motor Co., Ltd. has been reducing its connection with the Volvo department for more than a year, and is in talks with "many potential buyers" about selling the department.
However, the withdrawal of multiple competitors may not correspondingly reduce Geely's difficulty in acquiring Volvo. "Ford is sure to sell Volvo, mainly to see whether Geely can withstand Ford's offer." An authoritative source told the "Daily Economic News" reporter.