Geely Auto plans to take its luxury EV unit, Zeekr, off the New York Stock Exchange just one year after its listing. This move stems from rising geopolitical tensions and potential U.S. initiatives targeting Chinese companies on American stock exchanges. Geely has proposed a buyout at $25.66 per share, valuing Zeekr at $6.5 billion. Owning 65.7% of Zeekr position, Geely risks a relatively small investment of $2.2 billion to acquire the remaining stake. This maneuver aims to stabilize Zeekr in a competitive market while safeguarding its interests, particularly as it develops partnerships for autonomous vehicles.
China's Geely Auto is moving to take its luxury EV division, Zeekr, private following its NYSE debut last year amid ongoing trade tensions with the U.S.
Geely's offer to buy Zeekr at $25.66 per share represents a strategic move to protect its investment in the wake of geopolitical tensions.
Collection
[
|
...
]