- Feb 6, 2007
- 590
- 0
- 1,516
Swedish press reports link Volvo Truck, Renault in possible bid for Ford subsidiary
<b></b><b></b><b></b><b></b><b></b><b></b><b></b><b></b><b></b><b></b><b></b><b></b><b></b><b></b>
+
STOCKHOLM — Rumors continue to surface in Sweden that AB Volvo, the commercial truck and bus manufacturer, may join forces with minority shareholder Renault in a bid to acquire Volvo Cars from Ford Motor Company.
The two Volvo operations were separated when Ford bought the car-making unit from the Swedish parent in 1999.
In an effort to raise cash as part of its renewed focus on core brands in North America, Ford has been divvying up the various European brands in its Premier Automotive Group. Earlier this year, it sold Aston Martin to a group of private investors for around $850 million, and Ford recently has indicated that its Jaguar and Land Rover brands are on the block.
BMW earlier was rumored to be interested in acquiring Volvo, but the German automaker reportedly has backed away from making a formal bid.
The latest rumors from Sweden were carried this week in the business daily Dagens Industri. The newspaper said AB Volvo likely would take a minority stake in Volvo Cars of 10-20 percent. The truckmaker also owns Mack Truck and Renault Trucks.
The French automaker in turn holds a 20-percent stake in AB Volvo and is expected to join its Swedish partner in any bid for Volvo Cars. Renault several weeks ago denied it had an interest in acquiring Volvo.
Source:
Global Auto Systems
June 21, 2007
+
STOCKHOLM — Rumors continue to surface in Sweden that AB Volvo, the commercial truck and bus manufacturer, may join forces with minority shareholder Renault in a bid to acquire Volvo Cars from Ford Motor Company.
The two Volvo operations were separated when Ford bought the car-making unit from the Swedish parent in 1999.
In an effort to raise cash as part of its renewed focus on core brands in North America, Ford has been divvying up the various European brands in its Premier Automotive Group. Earlier this year, it sold Aston Martin to a group of private investors for around $850 million, and Ford recently has indicated that its Jaguar and Land Rover brands are on the block.
BMW earlier was rumored to be interested in acquiring Volvo, but the German automaker reportedly has backed away from making a formal bid.
The latest rumors from Sweden were carried this week in the business daily Dagens Industri. The newspaper said AB Volvo likely would take a minority stake in Volvo Cars of 10-20 percent. The truckmaker also owns Mack Truck and Renault Trucks.
The French automaker in turn holds a 20-percent stake in AB Volvo and is expected to join its Swedish partner in any bid for Volvo Cars. Renault several weeks ago denied it had an interest in acquiring Volvo.
Source:
Global Auto Systems
June 21, 2007
