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Geely Auto (HK0175) has made an announcement stating that its wholly-owned subsidiary, Geely SPV, has plans to invest €221 million with the aim of acquiring a 34% stake in a Spanish company that it has identified as a target. Once the transaction is successfully finalized, the equity structure of the target company will undergo a transformation. Specifically, Ford NL will hold 66% of the equity, while Geely SPV will hold the remaining 34%. It is important to note that this acquisition does not fall under the category of a related-party transaction and, as such, does not necessitate any special disclosure. Furthermore, Geely SPV, Ford NL, and the target company have expressed their intention to collaborate in establishing a joint venture company. This new entity will be primarily focused on the contract manufacturing of passenger vehicles.
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