Geely Close to Finalizing Deal with Volvo

Zhejiang Geely Holding Group, China's largest private auto maker, is putting the final touches on a deal with U.S. giant Ford to acquire the Swedish luxury car unit Volvo, said Volvo chief operation officer Stephen Armstrong on January 6.

Separately, Vice President of Geely, Yin Daqing, said in Shanghai that a definitive agreement of the deal will be signed before the Spring Festival Holiday which starts February 13 this year. The transaction is expected to be finished by May.