Ford Motor has reached a tentative agreement to sell its Volvo cars unit to Geely, the Chinese carmaker. A deal is expected to be finalised early next year, the groups said yesterday.
Ford said that “all substantive commercial terms” had been settled, though financing and government approvals had yet to be finalised.
Neither company would comment on the price, but sources close to the deal said it was in the region of $1.8bn to $2bn.
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