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US$ 200 million finance facility arranged for Geely Group
Published time: 2010-08-02
China Construction Bank (London) Limited arranged a US $200 million acquisition finance facility for Geely Sweden AB, a subsidiary of Zhejiang Geely Holding Group Co. Ltd., the largest private car-maker in the People's Republic of China. The facility forms part of the funding used by Geely Sweden AB to finance the acquisition of the Volvo group, the Swedish car-maker, from Ford Motor Company. The facility is secured by pledges over the shares of the ultimate holding companies of the Volvo group.