How Geely won

    | BY

    clpstaff &clp articles

    Key to PRC automaker's success was in talking to regulators

    Promulgated: 2010-03-28

    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. It acquired Volvo Cars on March 28 for US$1.8 billion in a landmark deal involving the outbound acquisition of a premium car brand. The news came amid General Motors' intent to wind down its sports utility vehicle brand Hummer, after its collapsed bid from Sichuan Tengzhong.

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