Ford to sell Volvo
US auto giant Ford said today it had reached a deal with China's Geely on the potential sale of its Swedish brand Volvo.
"Ford Motor Company confirmed today that all substantive commercial terms relating to the potential sale of Volvo Car Corporation have been settled between Ford and Zhejiang Geely Holding Group Company Limited," the statement said.
The US company said it anticipated "that a definitive sale agreement will be signed in the first quarter of 2010, subject to appropriate regulatory approvals."
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