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.
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