Summary by Moomoo AI
Geely Automobile Holdings Limited announced that its wholly-owned indirect subsidiary, Zhejiang ZEEKR Technology Co., Ltd., intends to acquire 50% equity of Lynk & Co Automotive Technology Co., Ltd. for RMB 9 billion and inject approximately RMB 0.367 billion into Lynk & Co. Upon completion of the Trade, Geely Automobile will Hold 51% of Lynk & Co through ZEEKR, which will become an indirect non-wholly-owned subsidiary of Geely Automobile.This Trade aims to strengthen Geely Automobile's strategic integration and synergy, optimize the equity structure, and eliminate intra-industry competition. Geely Automobile stated that by integrating the resources of ZEEKR and Lynk & Co, it can reduce duplicate investments and enhance synergy in branding, technology, and supply chain, thereby improving innovation capability and profitability.The transaction...Show More