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Zeekr Mulls Adding Stake in Lynk & Co to 51%; Geely, Volvo Said to Fully Exit
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Zeekr (ZK.US), a subsidiary of Geely Group, plans to take over Lynk & Co, a sister brand owned by Geely and Volvo Cars, with Geely aiming to streamline operations and cut costs through this transaction, Reuters reported, citing sources. It is reported that Zeekr will acquire Volvo Cars' 30% stake in Lynk & Co, as well as Geely's 20% stake, allowing both Volvo Cars and Geely to fully exit Lynk & Co. This transaction values Lynk & Co at around RMB18 billion. Zeekr intends to add its stake in Lynk & Co to 51% through capital injection, while GEELY AUTO (00175.HK) under Geely Group will continue to hold the remaining shares. The transaction is expected to be completed by June next year. AAStocks Financial News |
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