Sheffield Taxi Forum

Chinese firm interested in Volvo

View previous topic View next topic Go down

Chinese firm interested in Volvo

Post by Admin on Sun 8 Mar 2009 - 12:23


Ben Marlow


THE Chinese firm that part-owns the manufacturer of London’s black cabs is preparing a bid for troubled Swedish carmaker Volvo.

Geely Automotive, a Chinese car manufacturer, has appointed NM Rothschild to advise on a possible bid for loss-making Volvo, which has been put up for sale by its ailing American parent Ford.

Geely owns 23% of Manganese Bronze, the maker of London’s famous black cabs, and 51% of a Shanghai-based joint venture with the British company. The news that Geely is serious about bidding for Volvo will come as a surprise after Geely’s chairman, Li Shufu, ruled out a move for the Swedish company last week. It is understood that Geely is looking for a private-equity firm to provide financial backing.

Bankers believe there is another party interested in buying Volvo. One rumour emanating from Sweden is that a former chief executive of the company is working on takeover plans. It could also be another Chinese firm.
avatar
Admin
Admin

Number of posts : 496
Localisation : Sheffield
Registration date : 2007-03-08

View user profile http://taxiforum.editboard.com

Back to top Go down

Re: Chinese firm interested in Volvo

Post by Aftab on Tue 10 Mar 2009 - 13:38

We buy most things made in China anyway so what else is new.Laughing
avatar
Aftab
Admin

Number of posts : 650
Registration date : 2007-03-09

View user profile

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum