Latest News
Monday, October 05, 2009
Your Say
A US-led consortium has entered the race to buy Volvo from Ford, according to a report in the Financial Times.
China’s Geely Automotive is believed to be the favourite to sign the loss-making Swedish firm, but the so called Crown consortium has reportedly already secured funding from US private equity groups.
Funding is also believed to have approach from Swedish investors, in a bid to ensure the company stays in its native country.
The paper reports the consortium is fronted by former Ford director Michael Dingman and former Ford and Chrysler exegash ive Shamel Rushwin.
Crown’s bid is believed to be significantly less than what Geely has offered, but both offers reportedly promise a similar amount of investment.
None of the firms involved have commented on the reports.
Twitter - follow autocar.co.uk
See all the latest Volvo reviews, fresh s and video
Your Say
Previous tale  | News home  | Next tale
No comments:
Post a Comment