Volvo Cars completes the divestment of its 30 percent stake in Lynk & Co
Volvo Car AB (publ) (“Volvo Cars”) today announces the successful completion of the divestment of its 30 per cent stake in Lynk & Co to Zhejiang Zeekr Intelligent Technology Co., Ltd. (”Zeekr”), a transaction valued at RMB 5.4 billion (approximately SEK 8 billion).
The divestment received approval from an Extraordinary General Meeting of Volvo Cars shareholders on February 6 and 70 per cent of the consideration has now been paid in cash. The remaining 30 per cent plus interest will be paid one year after today’s closing.
SOURCE: Volvo Cars
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Originally posted on: https://www.automotiveworld.com/news-releases/volvo-cars-completes-the-divestment-of-its-30-percent-stake-in-lynk-co/