Geely, Goldman in $250 mln conv bond deal talks: sources

By IBTimes Staff Reporter | September 21 2009 12:00 AM

An investment arm of Goldman Sachs Group is in talks with China's biggest privately-owned car maker Geely Automotive <0175.HK> to buy about $250 million of the company's convertible bonds, two sources said.

Sponsorship Link

Geely, whose parent is eyeing Ford's Swedish car brand Volvo, aimed to use the proceeds to boost its carmaking capacity, a source close to the Chinese car maker told Reuters on Monday.

Geely plans to use the proceeds to add new car and parts plants and to buy auto-related assets from its parent, Geely Holding Group Co, said the source.

Geely and Goldman officials declined to comment.

(Reporting by Fany Yan and Alison Leung; Editing by Chris Lewis)

More in Markets / Finance

Bangladesh Factory Still Making U.S. Products Despite Wal-Mart Red Listing: Reuters

Bangladesh Factory Still Making U.S. Products Despite Wal-Mart Red Listing: Reuters

Should China Build A Bloomberg Terminal Rival?

Should China Build A Bloomberg Terminal Rival?

Goldman (GS) To Sell Off Stake In China's Biggest Bank

Goldman (GS) To Sell Off Stake In China's Biggest Bank

General Electric News: GE To Get $11 Billion Dividend Payment From GE Capital

IBTimes Magazine

Drones: Which Countries Have Them For Surveillance And Military Operations? (MAP)

Where In The World Are The Military Drones?

Borrowing To Buy: How Much Do Americans Owe?

Borrowing To Buy: How Much Do Americans Owe?

Journeys In Jaffna, Sri Lanka, 4 Years After The Civil War’s Bloody Conclusion

Inside Northern Sri Lanka 4 Years After Civil War

The West Bank Wall: What Life Is Like For Palestinians And Israelis Divided By The Barrier

Life For Palestinians And Israelis Divided By West Bank Wall

web counter