Geely Motor: acquisition of 49.9% share capital of Proton and DHG

CTOnews.com January 20 news, Geely announced on the Hong Kong Stock Exchange today that after today's trading session, the company's direct wholly-owned subsidiary Linkstate signed a Proton agreement with Geely International Hong Kong.

According to the notice, Geely International Hong Kong conditionally agreed to sell and Linkstate conditionally agreed to buy Proton sales shares and sales loans at a consideration of RMB 1.063 billion and US $56.39 million (currently about RMB 382 million).

On the same day, Linkstate also entered into the DHG agreement with Geely International Hong Kong, whereby Geely International Hong Kong conditionally agreed to sell and Linkstate conditionally agreed to purchase the DHG Sale shares for a nominal consideration of US $1.00 (currently approximately RMB6.78).

CTOnews.com learned that Geely said that when the sale shares were completed, the group would hold 49.9 per cent of the issued and fully paid common shares of each of Proton and DHG.