China's Geely hopes to complete acquisition of Volvo early in 2010

(December 16, 2009) Zhejiang Geely Holding Group aims to conclude the acquisition of Ford's Volvo unit in early 2010 and has hired consultants for restructuring and integration, sources with direct knowledge of the deal said.

German-based Roland Berger Strategy Consultants has been hired to launch a 100-day internal review and restructuring to improve Geely operations with a focus on sales of Geely's self-branded cars in China, a source told news agency Reuters.

"The Volvo deal sees no more hurdles," another source told Reuters.

"It is expected to be done before Chinese New Year, and then Geely will quickly launch integration," said the source, who declined to be named due to the sensitive nature of the deal. The Chinese New Year starts on Feb. 14.

A Geely spokesman was not available for comment.