Geely closes in on Volvo takeover
Published: 24 Mar 10 08:06 CET | Print version
Online: http://www.thelocal.se/25702/20100324/
Chinese Geely representatives will arrive in Sweden over the weekend to complete the $1.8 billion purchase of Volvo Cars from Ford, on either Sunday or Monday, according to the Financial Times.
- Volvo Cars admits to 'unrealistic' sales targets (3 Jun 13)
- EU green lights Volvo and Dongfeng merger (8 May 13)
- Volvo posts biggest loss since financial crisis (25 Apr 13)
The newspaper cites three sources close to the deal. According to one of them, half of the purchase is financed by loans from European banks, of which around $500 million comes from Swedish banks. The remainder of the financing will come from China.
China's vice-president Xi Jinping is expected to pay a visit to Sweden on Saturday, and the contracts are expected to be undersigned either on Sunday or on Monday, according to one of the newspaper's sources.
The aforementioned EIB loan could be a potential problem, according to one of the sources, in the instance that a European competitor objects to the provision of loans to a state-supported firm.
"My understanding is that Geely is a state-supported company and in that sense it is the Chinese state which is buying Volvo," said Lars Holmqvist CEO of automotive parts supplier Clepa, to Dagens Industri (DI).
Holmqvist questions if Geely has a right to state-guaranteed loans.
Hans Lindblad, state secretary at the finance department, also holds reservations. He told DI that it is not "a matter of course that a Chinese state-backed firm would be approved for this type of loan," referring to the four billion kronor ($556 million) in loans that the EIB has granted Volvo Cars.
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Time to go back to SAAB if this stupid deal actually goes through. Ford, you suck, i am NEVER going to buy any product with your name on it.
Gothenburg residents should lock up their dogs or they will end up in the pot.
As for Ford they don't give a monkey's about Volvo, one they have their hands on the $1.8bn Geely will be let do what it wants. That said Volvo are still a better long term bet than Saab, if the Chinese supply the money and keep their noses out it might just have a chance.
The yellow people are taking over the world before the aliens from outer space.....!!!!!!!!
ha ha ...
Oh, FYI, Geely is the largest private owned car company in China... they wouldn't float it on the stock market if it was owned by the Chinese Govt... they may have a healthy percentage of stock in Geely, but no more so than the US does in Ford, GM etc. etc. after the bailout.
That is the main reason behind the racial insults. Politics is just politics.
I am chinese and we WILL take over your mother f**king country.
SO WHAT!!!!!!!!!!!!!!!!!!!!!!!!!
A small minority of Chinese eat dogs, far smaller than the proportion of white paedos - the poor ones who can't afford any other sources of meat. As for theTank man incident - it was 20 years ago, let it go kraut.
Lack of freedom speech and media reporting or censorship of the internet
Supression of religious beliefs
Torture of prisoners and no judicial independence to ensure fair trials
Death penalty (and the fact that people can be put to death for nonviolent crimes such as theft)
AND DOG EATING!
There you are, doing it again. 90% of yours (and many whites) issues are against Chinese Government policies - yet you blame the Chinese people. That's a clear definition of racism.
Tibet? At least it's not half way around the world like Iraq and Afghanistan.
Dogs? Killing and skinning reindeer I find far more evil.
The death penalty? The only superpower in the world uses it. And quite frankly, it it puts to death people who rape, murder etc. as opposed to a few years prison followed by "counselling" like in scandanavian countries, well death penalty wins out any day.
The fact is, everything you bitch about the Chinese has been done by whites, in a more severe form a thousand times over, past present and no doubt the future. Swedish arms exports on the rise once more... a bit of that viking mentality never dies, eh? Indeed, you guys endorse violence. I don't see why the Chinese have to restrain themselves just so they can suck it up to whites.
Now go to bed you paedo.
I welcome your criticism of me and your point of view even if I don't beleive in it - but if you levelled criticism of China in this way you would probably disappear in the same way as thousands of other protestors. Enjoy the freedom in the civilised world - you are privileged by comparison.
All countries have plenty of bad things going on for everyone to latch onto. The main difference is, you, and more specifically white citizens, make it racial. When you guys go on the offence, it is not an attack on another country's policies - no, it is an attack on their race, their culture.
When I critique the Americans, I never mention the fact that they do what they do because they are white. The fact is, whenever something Chinese related (like this story) comes on the closet racists come up with their snide remarks regarding eating dogs and the reds taking over. There was no productive argument in your initial comments, only casual racism.
And unfortunately I cannot enjoy the freedoms of the "civilised" world, because it is in these white, "civilised" countries who have the most/largest proportion of racist extremists/supremacists in the world. Indeed, I find it amazingly hypocritical that you would call yourselves civilised when there are groups of your race setting up chapters all over the "white world", hellbent on the elimination of people simply for their skin colour. Would you really call racial hatred an act of a mature civilisation?
And remember you are also privileged in comparison and should be happy with that also. Just because one is of a certain race but born in a country that allows freedom of speech, does not make him more lucky than a white born in the same country.
- China's treatment of Tibet
- Lack of freedom speech and media reporting or censorship of the internet
- Supression of religious beliefs
- Torture of prisoners and no judicial independence to ensure fair trials
- Death penalty (and the fact that people can be put to death for nonviolent crimes such as theft)
- AND DOG EATING!