Geely Completed The Acquisition Of Volvo &Nbsp; The Amount Was Less Than $1 Billion 800 Million.

According to the reporter,

The total purchase amount is less than 1 billion 800 million US dollars.

At noon yesterday in London, Geely Holding Group held a delivery ceremony for Volvo in London. Li Shufu, chairman of Geely Holding Group and Lis Buss, chief financial officer of Ford, attended the delivery ceremony.

At this point, the global luxury car brand officially fell into China's own brand Geely Holding Group.

Affected by this news, yesterday, Geely Holding Group's listed company 0175HK rose 5.86%, to close at HK $3.07.

According to our reporter, Geely's acquisition of Volvo is lower than expected.

Ning Shuyong, assistant director of Geely Holding Group and spokesman for Volvo car acquisition project, said: "in order to complete the acquisition of Volvo car company, the Geely Holding Group has issued a 200 million dollar bill and paid 1 billion 300 million US dollars in cash. The acquisition funds come from Geely Holding Group, Chinese funded institutions and international capital markets.

A small amount of capital will be paid in the future, and the specific amount will be adjusted according to the adjustment of factors such as pension obligations and operating capital, but it can be determined that the total amount of the purchase will be less than 1 billion 800 million dollars.

The industry sees this as another evidence of the success of the Geely Holding Group.

Yesterday, Li Shufu, chairman of Geely Holding Group, announced the global board of directors of Volvo sedan company.

Stephen Jakob, chief executive of North Volkswagen North America, will join the Volvo car company and take over as the latter's president and chief executive officer. Hans Oskarsson will serve as vice chairman and chief financial officer of Volvo car company. He served as the president and CEO of Volvo car company and the chief marketing officer of Ford motor company. Hanken Samuelson served as chairman of the board and served as chairman and chief executive officer of global commercial vehicle giant MAN AG; Director Herbert Demel has served as chairman of the German Audi group; Director Don Faunce Schroder is a senior financial expert; Director Wallace Huo has served as CEO and senior partner of Yin Tuo group Asia Ltd.

Another director, Shen Hui, is a well-known technical and managerial talent in China. He has served as vice president of Fiat China group, chief executive officer of Fiat Power Technology China and President of Warner China in Berg.

This is seen as the controlled decentralization of Geely Automobile Group.

Li Shufu said, "after the completion of the acquisition, Volvo sedan will operate independently.

Volvo sedan will retain its Swedish headquarters and its production base in Sweden and Belgium. Under the authority of the board of directors, the management will have the autonomy to carry out the business plan. "