China's Geely today completed its purchase of Ford's (F +1.9%) Volvo unit, reflecting the...

|About: Ford Motor Company (F)|By:, SA News Editor

China's Geely today completed its purchase of Ford's (F +1.9%) Volvo unit, reflecting the nation's rapid rise in the auto world. Geely paid $1.3B in cash and issued a $200M note to Ford - $300M less than the $1.8B initially publicized, but Ford said it would get a further "true-up" payment later in the year. (PR)