In 1999, Volvo Group decided to sell its automobile manufacturing business and concentrate on commercial vehicles. Ford saw advantages in acquiring a profitable prestige mid-size European automobile manufacturer, well renowned for its safety aspects, as an addition to its Premier Automotive Group. The buyout of Volvo Cars was announced on January 28, 1999, and in the following year the acquisition was completed at a price of $6.45 billion USD. As a result of the divestiture, the Volvo trademark is now utilized by two separate companies: