Goldman to Invest in Chinese Carmaker – Analyst Blog
Zacks Market Commentaries (September 22nd, 2009) Writes:
Geely Automotive is the Hong Kong-listed arm of Chinese automaker Geely Holding. Goldman Sachs Capital Partners will buy convertible bonds and warrants issued by Geely's Hong Kong-listed subsidiary. The deal is almost complete, but some technical details of the investment are still pending. Confirmation of the deal could be announced as early as this week.
Geely plans to use the proceeds from the Goldman investment to boost its production capacity, which could free up capital for its parent to bid for Volvo. Geely's parent company has made global headlines in recent weeks after contemplating a bid for Volvo, the Swedish car brand owned by Ford Motor Co. (F). A successful deal would boost Geely's profile and
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