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ZEEKR | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Nov 14, 2024 11:31

Summary by Moomoo AI

ZEEKR announced strategic integration transactions with Geely entities on November 14, 2024, primarily involving the acquisition of LYNK & CO stakes. The company will acquire a 20% interest from Geely Holding for RMB 3.6 billion and a 30% interest from Volvo Cars China for RMB 5.4 billion, plus accrued interests from September 30, 2024.Additionally, ZEEKR's subsidiary will subscribe to LYNK & CO's increased registered capital for RMB 367 million. Upon completion of both transactions, ZEEKR will own 51% of LYNK & CO, with Ningbo Geely holding the remaining 49%. The transactions will result in LYNK & CO becoming ZEEKR's consolidated subsidiary.In a parallel development, Geely Auto will increase its stake in ZEEKR to approximately 62.8% through its subsidiary's purchase of an 11.3% stake from Geely Holding for US$806.1 million. The transactions are subject to various approvals, including from Geely Auto's independent shareholders and Volvo's shareholders.
ZEEKR announced strategic integration transactions with Geely entities on November 14, 2024, primarily involving the acquisition of LYNK & CO stakes. The company will acquire a 20% interest from Geely Holding for RMB 3.6 billion and a 30% interest from Volvo Cars China for RMB 5.4 billion, plus accrued interests from September 30, 2024.Additionally, ZEEKR's subsidiary will subscribe to LYNK & CO's increased registered capital for RMB 367 million. Upon completion of both transactions, ZEEKR will own 51% of LYNK & CO, with Ningbo Geely holding the remaining 49%. The transactions will result in LYNK & CO becoming ZEEKR's consolidated subsidiary.In a parallel development, Geely Auto will increase its stake in ZEEKR to approximately 62.8% through its subsidiary's purchase of an 11.3% stake from Geely Holding for US$806.1 million. The transactions are subject to various approvals, including from Geely Auto's independent shareholders and Volvo's shareholders.
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