Chinese suitors plan visit to Volvo Cars: report

Chinese suitors plan visit to Volvo Cars: report
Chinese auto company representatives interested in buying Volvo Cars from Ford will be heading to Sweden next week to visit the troubled Swedish carmaker’s European headquarters.

According to Swedish business daily Dagens Industri, which did not cite any sources, officials from either Changan, Dongfeng or Geely will visit Volvo’s headquarters in Gothenburg, Sweden and its plant in Ghent, Belgium.

The newspaper said a Chinese buyer could be willing to pay between 15 and 20 billion kronor ($1.75-2.3 billion) for Volvo.

These offers are less than the amount paid by Ford 10 years ago. In 1999, the now struggling US auto giant company spent $6.45 billion to buy Volvo Cars.

Ford said last December it was considering a sale of its Swedish brand. At the end of March, the US automaker said it was holding detailed discussions with a number of unnamed interested parties.

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