Bankruptcy

Ford Selling Volvo; GM May Still Close Saab

By mcbride

Ford is selling Volvo to a Chinese company, Geely, and the terms of the sale are as yet unclear.  There may be sharing of Ford parts in exchange for Ford gaining better access to the China car market, for example.  ?The sale of Volvo to a Chinese firm is a sensitive issue. China has now overtaken the US as the world’s biggest car market?.if Geely keeps to its pledge to increase production to up to 100,000 - 200,000 a year, this could be the opportunity Volvo needs.?  Here is a link: http://news.bbc.co.uk/2/hi/business/8428813.stm

And then there is the last minute effort by Spyker (a Dutch company) to revive its purchase of Saab.  ?Spyker had previously given GM until 5 p.m. yesterday to consider its latest offer, but Spyker said it has extended that deadline until further notice. Spyker submitted its latest offer Sunday, just days after talks with GM collapsed over unspecified issues.?  It is still very doubtful that the sale will be able to turn around, given all that has transpired.  Here is a link: http://www.bostonherald.com/business/automotive/view/20091222gm_mulls_stryker_cars_new_bid_for_saab/srvc=home&position=also

Michael

Full post as published by Texas Lawyer Blog on December 23, 2009 (boomark / email).