3 August 2010

Volvo sale completed

Ford has completed the sale of its Volvo Cars brand to China based Geely Holding Group, for $1.8 billion.

It's the third big selloff by the company since 2007, when it sold its Aston Martin division. In 2008 it sold Jaguar Land Rover to India's Tata Motors.

Ford paid $6.5 billion for Volvo in 1999.