GEELY WELCOMES VOLVO DEAL APPROVAL
July 1st, 2010
BY WANG FANGQING
CHINA'S Geely has told Automotive Management it will press ahead with the acquisition of Sweden's Volvo by September having secured competition approval for the deal from the European Commission.
It green-lighted the purchase of Volvo Cars by Geely Holding Group and publicly owned investment firm Daqing, owned by the Daqing city government in north-east China's Heilongjiang Province. Following a one month inquiry, the Commission concluded the acquisition would not "significantly impede effective competition" in Europe, and imposed no ...
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