Thumbs up for sale

NT News - Motoring - - News - By NEIL McDON­ALD

VOLVO Cars Aus­tralia manag­ing di­rec­tor Alan Des­selss sees few, if any, road­blocks in the way of the Chi­nese takeover of the com­pany.

In wel­com­ing the $2 bil­lion takeover by the Geely au­to­mo­tive group, Mr Des­selss said it would be busi­ness as usual in Aus­tralia.

‘‘Now that it’s done I think we can move for­ward with a lot more cer­tainty and con­vic­tion,’’ he said.

Mr Des­selss wel­comed this week’s an­nounce­ment that the Geely car com­pany will pay $2 bil­lion for Volvo Cars.

The price in­cludes a $200 mil­lion note and the rest to be paid in cash.

‘‘It’s a bar­gain for Geely,’’ he said. ‘‘I don’t think too many West­ern com­pa­nies have that sort of money.’’

Ford bought Volvo for $6.5 bil­lion in 1999.

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