Geely bought Volvo again? Yes, this is the parent company of Volvo

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Geely bought Volvo again? Yes, this is the parent company of Volvo

2017-12-28 18:29:56 760 ℃

according to Geely Holding Group, said today, Geely announced the European fund company Cevian Capital (hereinafter referred to as Cevian) to reach an agreement, the acquisition of its holdings of Volvo group (AB Volvo) 88 million 470 thousand shares of A shares and 78 million 770 thousand shares of B shares. After the project delivery, Geely holdings will have a 8.2% stake in Volvo, the first largest shareholder and 15.6% voting rights.

Volvo group is headquartered in Sweden, is the global leader in trucks, buses, construction equipment, marine and industrial engine manufacturer, owns Volvo trucks, UD truck, Renault Trucks, passenger cars, passenger cars, Volvo cars, Volvo Paivio Nova penta engines and other brands. Christer Gardell, the executive vice president of Geely Holding Group, CFO Li Donghui and Cevian, signed the equity purchase agreement on behalf of both sides. The transaction is still subject to approval by regulatory authorities.

Geely Holding Group Chairman Li Shufu said: "I am pleased with the Cevian in an acquisition of Volvo group equity agreement, so we have a chance to become a world leading commercial vehicles and construction equipment R & D, manufacturing and sales enterprise of the first big shareholder. We will learn from the successful experience of cooperation with Volvo automobile, respect and inherit the history and culture of Scandinavia, the Volvo group has a leading position in the market, excellent innovation ability as well as energy saving and environmental protection technology, support the Volvo group board of directors and management in accordance with the established strategy to carry out the work."

Geely Holding Group Executive Vice President, CFO Li Donghui said: "Geely is a long-term strategic investor friendly as everyone knows, the confidence of commercial vehicles and construction equipment market development. We look forward to deepening cooperation with the Volvo group, Geely in Chinese play market development experience, exploration in electrification, automatic driving, car networking and other fields to develop a global business cooperation opportunities, Volvo group, profitability continued to improve and make a positive contribution."

the project is Geely holdings since 2010 from Ford's acquisition of Volvo automobile group (Volvo Cars) after an important strategic investment, Geely Holding Group has Polestar, Volvo automobile, Geely Automobile, automobile, collar grams of London electric cars, remote commercial vehicles and other well-known brands. This year, Geely also conducted a strategic investment in proton cars, lutesi automobile and so force flying car.