Deals
Geely Picks BofA, UBS for Proposed Merger With Volvo Cars
- Volvo has HSBC on proposed deal; Geely in talks on structure
- Geely, Volvo in February proposed merger and listing plans
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Bank of America Corp. and UBS Group AG are among banks that Geely Automobile Holdings Ltd. has selected for its proposed merger with Swedish affiliate Volvo Cars, paving the way to create China’s first global carmaker.
Geely is discussing different deal structures with the advisers, while Volvo is working with HSBC Holdings Plc on the potential transaction, said the people, asking not to be identified because the matter is private. Volatility in global markets, sparked by the novel coronavirus outbreak, could lead to delays, although the overall plans to combine remain unaffected, they said.