Volvo to sell stake in Lynk & Co to Zeekr
19 Nov 2024|110 views
Volvo Cars has announced that it intends to divest its 30% stake in Lynk & Co to Zeekr. The transaction is said to represent a consideration of close to SEK 8 billion (SGD $981 million).
The consideration will be paid in cash, with 70% of the amount paid at closing of the transaction and 30% plus interest paid one year after closing. The transaction is expected to close during the first quarter of 2025.
Volvo Cars has been a minority shareholder of Lynk & Co since the company was set up in 2017, and states that this divestment is in connection with a new phase of development for Lynk & Co going forward, which includes a new ownership structure for the company. Volvo Cars additionally states that it will continue to focus on operational collaborations with Lynk & Co in selected markets where there is a strategic benefit for both companies.
Volvo Cars has announced that it intends to divest its 30% stake in Lynk & Co to Zeekr. The transaction is said to represent a consideration of close to SEK 8 billion (SGD $981 million).
The consideration will be paid in cash, with 70% of the amount paid at closing of the transaction and 30% plus interest paid one year after closing. The transaction is expected to close during the first quarter of 2025.
Volvo Cars has been a minority shareholder of Lynk & Co since the company was set up in 2017, and states that this divestment is in connection with a new phase of development for Lynk & Co going forward, which includes a new ownership structure for the company. Volvo Cars additionally states that it will continue to focus on operational collaborations with Lynk & Co in selected markets where there is a strategic benefit for both companies.
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