Photo: Manganese Bronze
It seems that Geely is still keen to acquire ailing European automakers, and after catching a rather big Volvo-shaped fish, they are now looking for smaller ones, like the builder of the famous black cabs of London, Manganese Bronze.
Zhejian Geely, owner of Geely Auto, is looking to purchase 80.03% of the Coventry-based manufacturer, which has been building the ‘traditional’ cab since 1948, and is now in dire need of financial protection, otherwise they will go into government-appointed administration yet again.
Geely already owns the other 19.97% of the company, and if this deal goes through, the Chinese automaker will be in complete control.
The two companies started a joint venture in 2006, which allowed Manganese to import parts from Geely in China, and assemble them in Coventry, and they were also allowed to sell their cabs in China and some parts of Asia.
It is worth mentioning that Geely Auto, which is basically a sub-brand of Zhejiang Geely, is not directly involved in the deal, or it is, but it has not been officially confirmed yet, as officials are staying tight-lipped about the whole situation.
Story via Bloomberg
Geely already owns the other 19.97% of the company, and if this deal goes through, the Chinese automaker will be in complete control.
The two companies started a joint venture in 2006, which allowed Manganese to import parts from Geely in China, and assemble them in Coventry, and they were also allowed to sell their cabs in China and some parts of Asia.
It is worth mentioning that Geely Auto, which is basically a sub-brand of Zhejiang Geely, is not directly involved in the deal, or it is, but it has not been officially confirmed yet, as officials are staying tight-lipped about the whole situation.
Story via Bloomberg
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