Geely Automobile Holdings (HKG:0175, HKG:80175) subsidiary Zhejiang ZEEKR Intelligent Technology acquired a 51% stake in Lynk & Co Automotive Technology for 9 billion yuan plus certain accrued interests starting from Oct. 1, 2024, a Friday bourse filing said.
Zhejiang ZEEKR Intelligent Technology purchased a 20% stake in the target from Zhejiang Geely Holding Group for 3.60 billion yuan and acquired a 30% stake in the target from Volvo Cars (China) Investment for 5.40 billion yuan.
Zhejiang ZEEKR Intelligent Technology purchased also subscribed for the target's newly increased registered capital of 153.1 million yuan for 367.3 million yuan.
After the completion, the target is owned 51% by Zhejiang ZEEKR Intelligent Technology and has become a subsidiary of the company.
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