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Ford Said to Complete Volvo Sale to Geely Next Week

Ford Motor Co. plans to complete its sale of Volvo Cars to China’s Zhejiang Geely Holding Co. next week, finishing the U.S. automaker’s exit from European luxury brands, according to two people familiar with the plans.

Ford is selling Volvo to Geely for $1.8 billion, less than one-third of what it paid for the Swedish automaker in 1999. Ford and Geely executives are aiming to close the sale next week, pending final regulatory approvals and financing, said the people, who asked not to be identified revealing internal plans.