Geely indicated his desire to end the negotiations with Ford over Volvo sale as soon as possible. China's car producers have hired a consultant team to help restructure and integration of Volvo as well as the internal review process that lasted 100 days today.
Wednesday last week, an agreement has been formed for them by announcing the establishment of the basic requirements related to filing of commercial acquisition of Volvo.
It is estimated that Geely will sign a definitive stock purchase agreement with Ford in the first quarter of 2010, opening the way for the potential settlement of transactions in the second quarter, according to regulatory approval. Further talks will focus on the finalization of documentation and the financing and government approval.
Last October, Ford announced that Geely is a special antidote for Volvo. The agreement, estimated at about U.S. $ 1.8 billion. Meanwhile, according to previous news, Geely hopes to start producing Volvo cars in the new factory located in Guangdong Province of China and they are already planning three new models.
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