Ford has told employees of a possible buyer for Volvo in a message from its strategic communications branch today.
Ford’s European division said it had been involved in “detailed discussions with potential buyers” and although it failed to name those parties specifically or place a time-frame on a sale date, it did indicate that the talks were indeed positive.
“We’ve had contact with a number of parties who’ve expressed interest concerning the future of Volvo. Ford’s been pleased with the number and quality of those parties,” John Gardiner, Ford’s European director of strategic communications said. “We’ve had preliminary discussions to determine the level of interest in the Volvo business that they have and we’re now talking in more detail to those parties about the future for Volvo.”
Sources close to the negotiations have indicated Ford could receive between US$1 billion to US$2 billion for Volvo, a considerable loss after acquiring the Swedish manufacturer for US$6.4 billion only 10 years ago. It has also been estimated that any final decision could take up to six months to complete.
Gardiner said the process could lead to a sale of the business but no final decision had been taken and negotiations would take “some time” though declined to identify the parties.