Ford has agreed the terms of the sale of its Swedish business, Volvo Cars, to China’s Geely.
Ford said “some work still remains to be completed” but the deal will be finalised early next year ahead of completion soon after Easter.
Ford put Volvo up for sale a year ago to help pay off its debt and make its business more focused.
Geely was named preferred bidder in November. If completed, it will be the largest purchase by a Chinese car firm.
Ford said that while the “substantive commercial terms” had been settled, financing still needed to be completed and government approval was also necessary.
Source: BBC News