How Geely won
April 16, 2010 | BY
clpstaff &clp articlesBeing transparent with regulators and securing sufficient funding was the winning formula for Zhejiang Geely Holding Group (Geely) in its bid to buy Volvo…
Being transparent with regulators and securing sufficient funding was the winning formula for Zhejiang Geely Holding Group (Geely) in its bid to buy Volvo Cars from Ford Motor Company (Ford).
Geely is China's largest privately owned carmaker, and it acquired Volvo Cars on March 28 2010 in a landmark deal involving the outbound acquisition of a premium car brand. The news came after a collapsed bid from Sichuan Tengzhong for General Motors' Hummer.
Both the Tengzhong and Geely deals were seen as viable outbound investments last year, but only Geely managed to slip through China's regulatory net unscathed.
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