Geely Reworks JV Ownership Structure

Geely Automobile Holdings (HK:0175) has released an update.

Geely Automobile Holdings Limited has announced a significant move in the automotive industry, entering a Sale and Purchase Agreement with multiple parties including Renault and Aramco Asia Singapore to dispose of a 10% stake in their JV Company. Upon completion, the JV will have a new ownership structure, with Aramco Asia Singapore holding a 10% stake. This transaction is noteworthy as it involves connected persons and is subject to certain conditions, urging shareholders and investors to be cautious.

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