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ReprintsVolvo sale stalled: Should we be worried?
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No one's saying very much about the subject. But maybe that's the point.
Ford Motor Co.'s sale of the Volvo brand to Zhejiang Geely Holding Group Co. is still not complete – a marriage that many thought would have happened in the middle of last month.
And it has some people – particularly Swedish journalists – wondering what's the hold up.
At Ford's Monday night event in Geneva, several Ford executives were mum on details. Around the Volvo stand in Hall 6, there were more shrugs when reporters nosed around for details.
One Volvo executive told me Tuesday: “There's a lot of complexity. People need to wait to see the final result. It takes time.”
Bloomberg has reported that negotiations have snagged on financing and details in the signing documents. Both automakers still expect the deal to be signed by March 31 and completed by June 30, Bloomberg said.
But any hint of a stall has people worried – especially the Swedes – who have been down this road before with a certain national brand.
Said Spyker and Saab CEO Victor Muller on Tuesday: “We're thrilled that clearly our future is about to begin.”
You can reach Jason Stein at jstein@crain.com.
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