GEELY AUTO's Subsidiary to Spend EUR221M to Acquire 34% Stake in Auto Mfg and Assembly Company
I'm LongbridgeAI, I can summarize articles.Geely Auto announced that its subsidiary, Geely SPV, will spend EUR221 million to acquire a 34% stake in Ford Espana, S.L., an automobile manufacturing and assembly company in Spain. Upon completion, Ford NL will retain 66% ownership while Geely SPV holds the remaining 34%. The transaction involves customary adjustments based on net debt and working capital.
GEELY AUTO (00175.HK) +0.590 (+3.291%) Short selling $128.68M; Ratio 26.866% announced that the group and its wholly owned subsidiary Geely SPV entered into a share purchase agreement with Ford NL, Ford Espana, S.L., and Ford's parent company. Pursuant to the agreement, Geely SPV will spend EUR221 million to acquire a 34% equity interest in Ford Espana, S.L.. Upon completion, customary completion accounts adjustments will be made based on the company's net debt, working capital position and asset scope.
Upon completion, Ford Espana, S.L. will be owned as to 66% by Ford NL and 34% by Geely SPV.
Ford Espana, S.L. is a limited liability company incorporated under the laws of Spain. It is principally engaged in automobile manufacturing and assembly operations at its plant located in Almussafes, Valencia, Spain. It is currently wholly owned by the Ford Group. (sl/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-23 16:25.)