Thumbs up for sale
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.