China Approves Geely Unit's 34% Stake Acquisition in Ford España
MT Newswires Live
Oct 12
China's market regulator unconditionally approved Geely Automobile (HKG:0175) unit Centurion Industries' acquisition of a 34% stake in Ford España, according to a Monday notice from the State Administration for Market Regulation.
Centurion agreed in July to buy the stake from Ford Nederland for 221 million euros. Ford España, a unit of Ford Motor, mainly manufactures and assembles automobiles at its facility in Spain.
The approval was among 13 merger, acquisition and joint-venture cases unconditionally cleared by the regulator during the week ended Sept. 27.
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