Geely partners with Britain's Manganese Bronze to produce taxis
By Dai Yan (chinadaily.com.cn)Updated: 2006-11-10 09:02
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Geely will establish a joint venture (JV) with Manganese Bronze and hold a 51 percent stake. Shanghai Maple, a subsidiary of Geely, will hold one percent of the JV and Manganese Bronze 48 percent.
Manganese Bronze will issue 30 percent of new ordinary shares (representing
23 percent of Manganese Bronze's enlarged issued ordinary share capital) to
Geely based on a valuation of 2.5 pounds (US$4.75) a share. This will Manganese
Bronze's 48 percent shares in the new JV.
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The full text is available in the November Issue of AutoChina.
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