Financial News
Written by: Xu Shihao
2020-12-31 13:13
Last update date: 2020-12-31 13:13
Li Shufu, chairman of Geely (0175) Group, said that Geely Auto will resume discussions on the merger and reorganization with Regal Auto after its launch on the Mainland Science and Technology Innovation Board.
In his New Year's speech, Li Shufu expressed his hope that through reorganization, cooperation and coordination will be further strengthened and greater growth potential will be tapped.
Earlier this month, mainland media reported that the merger plan or alliance negotiations between Volvo Auto and Geely Auto may resume in the first quarter of next year. After the reorganization of the two parties, the assets will be incorporated into Geely Auto's Hong Kong listed company and will be considered for listing in Sweden in the future.
The merger plan was suspended earlier, mainly because in September this year, Geely was seeking to be listed on the Shanghai Science and Technology Innovation Board, and it had to ensure that the capital structure did not change before postponing negotiations until next year.
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Geely Li Shufu
