FRANKFURT/BEIJING (Reuters) - A $9 billion (6.40 billion pounds) stake in Germany’s Daimler marks the biggest move so far in a global acquisition spree by Li Shufu, chairman of China’s Zheijiang Geely Holding Group.
The company has been making automotive deals for nearly a decade, either directly or through subsidiary Geely Automobile Holdings Ltd.
Below are its investments:
- Geely on Feb. 23 unveiled it had built a 9.69 percent stake in Daimler, becoming its largest single shareholder
- In December 2017, Geely agreed to buy a 8.2 percent stake in AB Volvo, making it the Swedish truckmaker’s biggest single shareholder
- In November 2017, Geely completed its takeover of U.S.-based flying car start-up Terrafugia
- In May 2017, Geely agreed to buy 49.9 percent of Malaysian automaker Proton and acquired 51 percent of Proton’s stake in British car maker Lotus
- In 2013 Geely bought London Electric Vehicle Company (LEVC), maker of London’s black taxis
- In 2010, Geely bought Sweden’s Volvo Cars, which was split from AB Volvo in 1999. Geely and Volvo Cars jointly own the Lynk & Co brand.
Reporting by Christoph Steitz and Norihiko Shirouzu; editing by Jason Neely