Just as the sale of Chrysler to Cerberus cleared a major hurdle yesterday, Ford has come to occupy the automotive soap opera stage with the sale of its PAG brands including Volvo, Land Rover and Jaguar. According to Swedish news reports, the newest dark horse candidate interested in the Premiere Automotive Group is AB Volvo, the Swedish commercial truck manufacturer that sold its stake in Volvo to Ford almost ten years ago. AB Volvo is reportedly only interested in buying back Volvo, not in purchasing PAG as a whole. Analysts are crying foul, though, citing the fact there's little logic in AB Volvo buying back what it sold to Ford almost a decade ago after having worked so hard to build up its commercial truck business. What's particularly interesting is that Renault happened to acquire a little over 20% of AB Volvo in a past deal that sent the French manufacturer's truck unit to Sweden. Speculation has also recently made Renault a potential suitor for Ford's PAG brands, which means a potential alliance between AB Volvo and Renault could have some serious purchasing power.
[Source: Automotive News]