A report released earlier today stated that a PE fund operated by Goldman Sachs is investing $250 million in Geely Holding Group’s Hong Kong-listed arm to fund the auto maker’s growth, which could include a bid for Ford’s Volvo unit.
Sources say that the Goldman Sachs’ fund is investing in convertible bonds and warrants that will give it a minority stake in the Chinese auto maker.
Official word will come from Geely on Monday.
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