Volvo: The Chinese government allows Geely acquire Swedish

The last obstacle was overcome by the Chinese automaker Geely to buy Volvo has just been crossed.

Thus, the Chinese Ministry of Commerce has just given its approval to this transaction.

According to the latest information received, this is the current president of the Chinese Li Shufu who take the lead manufacturer Volvo. The final agreement between the two companies is expected to close by the end of September.

In the end, the Geely will pay nearly $ 3 billion to acquire Volvo.

Recall that this Chinese company is a huge conglomerate that navigates in several sectors of the economy, including of course, the automobile since 1997. Today, the company "private" produced around 00 300 vehicles annually.

Obviously with the acquisition of Volvo, the latter will benefit from modern technologies enabling it to design and produce vehicles better adapted to the different requirements in matters of security and consumption dictated by countries around the world.

The network of dealers of the Volvo brand will eventually serve as a springboard to greater openness, even a very enlarged their distribution models to come ...