Auspicious on acquisition of Volvo and Ford agreement on trade terms

December 23 News, Sina Finance from China Automobile enterprise Zhejiang Auspicious Holding Group Co., Ltd. was informed that the company and Ford Motor Company on the acquisition of Volvo Car Company all the important terms of trade agreed, the Equity acquisition agreement in the 1th quarter of 2010 signed.　　The agreement that has been reached on the terms of the trade is the result of an in-depth discussion with Ford since October, when auspicious became Volvo's preferred bidder, said auspicious. As one of China's fastest-growing auto companies, it is expected to sign an equity takeover agreement with Ford in the 1th quarter of 2010 and a deal to be completed by the 2nd quarter after obtaining approval from the relevant regulatory authorities.　　The two sides will discuss the legal text and the ultimate determination of financing and government approval and other issues.　　At the same time, auspicious and Volvo management, trade union representatives and the location of Volvo's main factory-Sweden and Belgium, the government officials conducted a series of constructive meetings. "Auspicious will be committed to working with all stakeholders to complete a transaction that best meets the interests of all parties."　　"Li Shufu, chairman of Zhejiang Jixiang Holding Group, said.　　If the ultimate signing of the Equity acquisition agreement, as the world famous high-end car brand, Volvo will continue to lead the world automotive technology trends in safety and environmental technology, and in the fast-growing Chinese market to obtain a unique competitive position. More details on the deal will be announced after the signing of the equity agreement in the 1th quarter of 2010. (Ann is from Shanghai)