In 1999, Volvo Group decided to sell its automobile manufacturing business in order to concentrate on commercial vehicles, and to buy a 5% stake in Japanese automaker Mitsubishi Motors (with which Volvo Group along with the Dutch government had participated in a joint venture at the former DAF plant in Born, Netherlands since 1991). 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 28 January 1999, and in the following year the acquisition was completed at a price of US$6.45 billion. As a result of the divestiture, the Volvo trademark was used by two separate companies: