Geely Automobile Holdings or within a few weeks, the UK based
July 30th, London taxi maker MBH (Manganese Bronze, hereinafter referred to as said or manganin) in a few weeks with Zhejiang Geely Holding Group Company Limited (Geely, 0175.HK) reached 20 million new shares subscription agreement, once the deal is completed, it will hold a bronze of about 51.7% of the shares, but also have the manganin hope next year to profitability. However, Geely Automobile spokesman Yang Xueliang said, temporarily not informed of the relevant signing news.
Reuters said that the bronze in the first half of 2010 reported that, although with the Geely negotiation process longer than expected, but still under negotiation. The pen manganin believes that the protocol can not only enhance their capital strength, deepen cooperation with Geely and can launch more models. Manganin company CEO (Chief Executive) John · (John Russell); LaSalle said, confident and Geely reach allotment agreement, time is only several weeks instead of months, LaSalle also revealed that the ownership structure and corporate governance issues related to Geely, delayed the progress of the negotiations, but did not disclose the share price of the LaSalle new.
Early in March this year, has publicly expressed manganin plans to price of 70 pence per share to sell 20 million shares of Geely, Geely said in May received the invitation of manganin, due to the huge losses of manganin in the first half of this year, which is eager to obtain financing. The brokerage Collins Stewart analyst Michael · Obrien (Michael O' Brien) said that the transaction is very important for &ldquo obviously manganin manganin; want to complete the transaction as soon as possible, debt manganin circuitous space is not much. ” Obrien also believes that the manganin will in a few weeks to complete the transaction, “ but a little worry is why so leisurely.
Geely Automobile spokesman Yang Xueliang told the Morning Post reporter that he had not been informed of the relevant contract information for the time being. It is understood that in 2006, Geely to 2.5 pounds per share subscription price of 5 million 700 thousand shares of manganin, holds a 23.2% stake in financing the manganin proportion dropped to 19.9%, and the formation of a joint venture with manganin, launched the LTI brand.
Reuters reported that if the manganin to Geely Geely holdings shares, the proportion will rise to 51.7%. The company in the first half due to the transfer of manganin to some Chinese production business provision of additional losses of $3 million 500 thousand, and believe that the possibility of the second half of little profit. But it is expected to turn around next year and benefit from the 2012 olympics.