EVWire brief: Geely offered on Tuesday to buy up the remaining ~34.3% of the shares from Zeekr listed on the New York Stock Exchange at $25.66/share, which is a ~14% premium on the closing price of the day of this announcement. That values Zeekr at ~$6.5B.
Context: Geely already controls ~65.7% of the Zeekr Group and debuted the company on NYSE just about a year ago on May 2024, raising $441M back then at ~$6.8B valuation.
This offer follows the recently-completed strategic integration of Lynk & Co, a separate automotive brand within the Geely portfolio, into Zeekr. The Geely Group also owns Volvo Cars, Polestar, Lotus and half of Smart brand.
Source: Geely press release, specific offer from Geely Auto
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