Today, Ford Motor (F) will reveal its progress on the sale of Swedish brand, Volvo. The automaker is most likely to sell the unit to China-based Zhejiang Geely Holding Group. Ford aims to conclude the sale in early 2010.  Ford had discussions with many automakers to sell Volvo, including Renault SA, China’s third-largest automaker, Dongfeng Motor Group and fifth-largest automaker Beijing Automotive Industry Holding Corp. In October, Ford revealed that the preferred bidder is Geely, who has submitted a concrete bid for the unit. Media reports had disclosed that Geely valued the unit at close to $2 billion.  Geely’s bid is backed by the Beijing Government. Three major Chinese banks, including Bank of China, China Construction Bank and Export-Import Bank of China have agreed to extend loans to the Chinese automaker for the deal.  In 1999, Ford had acquired Volvo Car Corporation from Sweden-based Volvo Group ...

For Immediate Release

Chicago, IL – December 10, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Citigroup Inc. (C), Bank of America Corp. (BAC), Wells Fargo & Co. (WFC), Ford Motor Co. (F) and Tata Motors (TTM).

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Here are highlights from Wednesday’s Analyst Blog:

Citi Seeks to Repay TARP Fund

Citigroup Inc. (C) is desperately seeking the approval of the U.S. Treasury Department and regulators to repay the bailout money it has received from the government for its participation in the Troubled Asset Relief Program

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Ford Motor Co. (F) has received a third bid for its Volvo unit from a Swedish consortium, Konsortium Jakob AB. The consortium has been formed on an initiative from the engineers' trade union at Volvo cars. The consortium has posed a challenge to Chinese carmaker Zhejiang Geely Holding Group, the foremost bidder for Volvo, by submitting a cash bid to Ford. Last week, Ford has received another bid from Crown consortium, a group led by former Ford executives, for its Volvo unit. This consortium is led by Ford’s former director, Michael Dingman, and former executive of both Ford and Chrysler, Shamel Rushwin. In 1999, Ford had acquired the Volvo Car Corporation from Sweden-based Volvo Group for $6.45 billion. However, the company put up the unit for sale in December last year in an effort to cut costs and raise cash amidst plunging industry-wide auto sales. The ...

A U.S.-led group – the Crown consortium – has revealed its interest to acquire the ailing Volvo unit from Ford Motor Co. (F). The group included former Ford director Michael Dingman and former Ford and Chrysler executive Shamel Rushwin. In 1999, Ford had acquired the Volvo Car Corporation from Sweden-based Volvo Group for $6.45 billion. However, the company put up the unit for sale in December last year in an effort to cut costs and raise cash amidst plunging industry-wide auto sales. Ford had discussions with many automakers for the sale, including Renault SA and China’s third-largest automaker, Dongfeng Motor Group. So far, China's Geely Automotive has submitted the only concrete bid for the unit. Media reports have disclosed that Geely has valued the unit at around $2 billion. Rumors had spread that Crown consortium had offered significantly less than Geely, but both plans involved ...

Ford Motor (F) is trying hard to offload its unprofitable Volvo car unit by the end of the year. Finance Chief Lewis Booth recently said that the company had no plans of retaining the unit. Ford only wants to concentrate and strengthen its own in-house brand.

In 1999, Ford acquired Volvo Car Corp. from Sweden-based Volvo Group for $6.45 billion. However, the company put up the unit for sale last December in an effort to cut costs and raise cash amidst plunging industry wide auto sales.

Ford negotiated the sale with many automakers, including Renault SA and China’s third-largest automaker, Dongfeng Motor Group. So far, China’s Geely Automotive was reportedly the only company to submit a concrete bid, valuing the unit at about $2 billion. However, Geely later denied such reports.

In the first half of 2008, Ford sold its UK-based Jaguar and Land Rover to Indian auto

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