Jakob Consortium Joins Volvo Bidding
December 8th, 2009 11:04 AM Share
As posted earlier, the American based Crown Consortium finally made an offer, said to be on par with Geely’s, perhaps calculating that Ford will prefer an American buyer to the Chinese. According to Swedish business site di.se Roger Holtback of Crown confirmed to tt.se [sub] that the Crown Consortium has made an offer on Volvo. Geely still has the edge, though: according to Ford Spokesman John Gardiner to Wall Street Journal, Geely is still the “preferred bidder.” But that doesn’t mean it’s exclusive.
And now, Swedish based Jakob Consortium, initiated by Volvo’s engineering union, with Volvo’s legendary, former CEO Søren “Gyll” Gyllenhammer as advisor, are ready to make an offer as well.Jakob’s spokesperson Ola Johansson, former information director at Volvo AB, tells di.se: “we have a sustainable business plan, and we’d like to talk to Ford ASAP, but it’s Ford whom sets the pace in all this.”The outline in Jakob’s businessplan is to run Volvo Cars as an independent Swedish-based company with close ties to Ford. “Ford is an obvious partner for years to come, with technology and platform-sharing and so on. Whomever buys Volvo needs to have Ford as partners, otherwise there’s nothing to buy. It’s part of the conditions,” Johansson says. And on the size of the offer: “That’s nogotiable, when we’re in that position. All valuation depends on what’s included in the price. It all depends on what, and how much Ford releases in the deal,” he says. But Johansson is not willing to reveal who’s behind Jakob’s finances: “industrial and financial investors from Sweden, Europe, and other parts of the world,” is all he is willing to say.
Published December 8th, 2009 10:35 AM
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- CEastwood Seven mil nitrile gloves from Harbor Freight for oil changes and such and the thicker heavy duty gripper gloves from Wally World for most everything else . Hell we used to use no gloves for any of that and when we did it was usually the white cloth gloves bought by the dozen or the gray striped cuff ones for heavy duty use . Old man rant over , but I laugh when I see these types of gloves in a bargain bin at Home Cheapo for 15 bucks a pair !
- Not Previous Used Car of the Day entries that spent decades in the weeds would still be a better purchase than this car. The sucker who takes on this depreciated machine will learn the hard way that a cheap German car is actually a very expensive way to drive around.
- Bullnuke Well, production cuts may be due to transport-to-market issues. The MV Fremantle Highway is in a Rotterdam shipyard undergoing repairs from the last shipment of VW products (along with BMW and others) and to adequately fireproof it. The word in the shipping community is that insurance necessary for ships moving EVs is under serious review.
- Frank Wait until the gov't subsidies end, you aint seen nothing yet. Ive been "on the floor" when they pulled them for fuel efficient vehicles back during/after the recession and the sales of those cars stopped dead in their tracks
- Vulpine The issue is really stupidly simple; both names can be taken the wrong way by those who enjoy abusing language. Implying a certain piece of anatomy is a sign of juvenile idiocy which is what triggered the original name-change. The problem was not caused by the company but rather by those who continuously ridiculed the original name for the purpose of VERY low-brow humor.