Geely Obtained 2.1 Billion U.S.Dollars for Volvo Purchase

[aimarraul]

Geely Obtained 2.1 Billion U.S.Dollars for Volvo Purchase
03-11 15:55 Caijing comments( 0 )


Geely has secured financing to buy Ford-owned Volvo cars for about 2.10 billion U.S. dollars

Complied by Caijing staff

Zhejiang Geely Holding, the Chinese carmaker has obtained 2.1 billion U.S. dollars in financing and will conclude the deal with Ford to buy its Swedish unit Volvo at the end of Mar. It will be the largest purchase by a Chinese car firm if completed, according to Xinhua News Agency.

2.1 billion U.S. dollars is now in place and Geely will reportedly cash out about 2 billion U.S. dollars for the Swedish brand. Chairman of Geely Li Shufu didn't deny the saying in the interview.

Financial institutions and regional authorities backed the financing, a source familiar with the situation told the reporter. Geely said nothing about the backers, which may be closely linked with the location of Volvo's Chinese factories.

Geely plans to nearly double Volve's annual global production with a new factory in Beijing or Tianjin to return the Swedish automaker to profitability by 2011, according to a plan put together by the company.

 

[SXNJ]

Financial institutions and regional authorities backed the financing, a source familiar with the situation told the reporter. Geely said nothing about the backers, which may be closely linked with the location of Volvo's Chinese factories.

It's very easy to raise 2 billion $ from the private capital of Taizhou and Wenzhou, millionaires can be found everywhere in that region.

 

[below_freezing]

It's very easy to raise 2 billion $ from the private capital of Taizhou and Wenzhou, millionaires can be found everywhere in that region.

全是暴发户啊。。。呵呵

Volvo是个明智的投资，这可以增加中国造车行业的知名度，同时也可以提高中国的造车技术。

 

[SXNJ]

全是暴发户啊。。。呵呵

Volvo是个明智的投资，这可以增加中国造车行业的知名度，同时也可以提高中国的造车技术。

浙江的民间资本就不是一般的多，几个人拿着十几个亿的资金买煤矿炒房的事情比比皆是，现在山西把浙江的煤矿主都赶出去了，正好钱没地方花了，只要吉利能搞出名堂，筹这点钱是小意思，希望他们能把Volvo的技术完整吸收，别把这牌子砸了，我还是挺喜欢这车的，呵呵

 

[stax]

浙江的民间资本就不是一般的多，几个人拿着十几个亿的资金买煤矿炒房的事情比比皆是，现在山西把浙江的煤矿主都赶出去了，正好钱没地方花了，只要吉利能搞出名堂，筹这点钱是小意思，希望他们能把Volvo的技术完整吸收，别把这牌子砸了，我还是挺喜欢这车的，呵呵

The money is provided by Beijing government. Geely will construct a car factory in Beijing.