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Swedes consider Volvo buyback from Ford

 
1 2,086 views July 3, 2007

Swedes consider Volvo buyback from Ford

Swedes consider Volvo buyback from Ford

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A wealthy Swedish family is rumored to be the latest bidder interested in buying a carmaker from Ford’s Premier Auto Group (PAG). After previously being considered for purchase by BMW, Volvo is once again tipped to be on sale, this time to the Wallenberg family. The Swedish family has control of an investment group that already owns an 11% stake of truck maker Scania, and now it’s reported to be part of an investment consortium interested in Volvo.

Ford has stated that it’s unlikely Volvo would be separated from the PAG because of its integration with other brands within the group. Volvo now supplies safety know-how to many other Ford brands and its profits offset major losses from Jaguar within the PAG.

Paul Newton, an analyst from Global Insight, revealed to The Independent that Ford is in fact selling all companies within the PAG and Volvo is expected to be the most expensive. With an estimated profit of $559 million for this year, we're not surprised that there's so much interest.



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Comment (1)

  1. By mohamad Posted: 7/4/2007 2:23am PDT

    Volvo must return to be pure sweden
     
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