On May 15, Geely Automobile made an announcement via a statement issued on the Hong Kong Stock Exchange, revealing that it had entered into two agreements following the trading session on the same day.
Firstly, Zhejiang Jirun and Geely Sales have agreed to acquire the entire equity stakes of Radar Automobile (Shandong) and Radar Automobile Sales, respectively, for cash consideration of RMB 159 million and RMB 59 million.
Secondly, CIL and GAIL will jointly acquire the entire issued share capital of Radar Thailand for a cash sum of RMB 490,000.
Upon the completion of these acquisitions, the aforementioned three companies will transition into wholly-owned subsidiaries of Geely Automobile.
Geely Automobile emphasized that this strategic move not only introduces a new energy pickup truck brand into its business portfolio but also facilitates the expansion and diversification of its product lineup.