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An investment arm of Goldman Sachs Group is in talks with China's biggest privately-owned car maker Geely Automotive to buy about $250 million of the company's convertible bonds, two sources said.
Geely, whose parent is eyeing Ford's Swedish car brand Volvo, aimed to use the proceeds to boost its carmaking capacity, a source close to the Chinese car maker told Reuters on Monday.
Geely plans to use the proceeds to add new car and parts plants and to buy auto-related assets from its parent, Geely Holding Group Co, said the source. Geely and Goldman officials declined to comment. (Reuters)