EU approves acquisition of Volvo lucky El Geely two obstacles
Yesterday (7 July), the EU competition regulators was approved Ford automobile company sold Volvo car deals. EU investigations concluded that the transaction would not significantly impede competition in the European car market. This conclusion meant that auspicious acquisitions Volvo transactions, complex antitrust investigation, one of the most important ― EU investigations has been adopted.
Kili's acquisition of Volvo, merger project of press spokesman Yuan Xiao Lin in the business news, interviews, a signed agreement from 3 month to three quarter delivery is complete, the most important aspects is to accept national antitrust investigation. Because Volvo sales area covers more than 40 countries and regions, in the place you want to make local antitrust investigation.
As the domestic auto industry on the overseas launch of the largest merger and acquisition, Geely, finalized last Volvo at a price of 18 million dollars, plus help maintain operational costs for Volvo 9 billion, total needs out of Geely 27 billion.
In the early days of acquisition, it is generally considered auspicious aspects will Government approval, financing and operation encountered three "Campo", the present acquisition of speed, the former two obstacles seem to do not form an obstacle.
Because antitrust investigation and approval authority in the Department of Commerce, coupled with the auspicious early in March has signed a contract with Ford aspects can be presumed that the approval, prior to signing the purchase has been completed. Now, after delivery, in the Volvo project landing domestic, Geely also will face a Government approval ― the NDRC approval falls to the ground.
Prior to this acquisition will encounter various difficulties, the Geely Group Chairman Li shufu once told a reporter said: "according to the China policy and the policy world, you must separate the acquisitions and the landing, the acquisition is acquired, the landing is landing. ”
Subject to approval, is auspicious for the acquisition of Volvo's 27 million, and by Daqing City, Jiading district, Shanghai, the two Governments as well as from a number of foreign financial institutions, are already in place.
In fact, all the "delivery" necessary conditions are in place. Previously there was news that auspicious period may purchase Volvo delivery to August, and the project on the application of domestic floor also is expected to be handed-in development and Reform Commission.