Geely Automotive Holdings (GELYF)

[I Like Bottom Fishing]

GELYY News DJ Swedish Govt: EU Approves Guarantees For Volvo Cars EIB* Loan.

Thursday, December 16, 2010 7:11 AM

Scottrade.com
This email is compliments of Scottrade.com

News for 'GELYY' - (=DJ Swedish Govt: EU Approves Guarantees For Volvo Cars EIB Loan)

http://online.wsj.com/article/BT-CO-20101216-705393.html?mod=wsjcrmain

DOW JONES NEWSWIRES

STOCKHOLM (Dow Jones)--The EU Commission has approved the terms of the Swedish government's state guarantees for the European Investment Bank's loan to car maker Volvo PV, owned by China's Geely Automobile Holding Ltd. (0175.HK), said the Swedish government Thursday.

The European Investment Bank, or EIB, loans are conditional on the Swedish state guaranteeing the entire loan sum in return for collateral provided by Volvo.

The next stage of the loan process is negotiation between the Swedish National Debt Office and Volvo regarding the terms of the loan guarantees, in addition to the Swedish government's approval.

-By Jens Hansegard, Dow Jones Newswires; [phone]; [e-mail]

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=FSM3dMMbyyGvy3WUbB%2Fxjw%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

December 16, 2010 07:11 ET (12:11 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.- - 07 11 AM EST 12-16-10

Source: DJ Broad Tape

http://online.wsj.com/article/BT-CO-20101216-705393.html?mod=wsjcrmain