Reported 17 days ago
Zhejiang Geely Holding Group, led by billionaire Li Shufu, is negotiating a syndicated loan exceeding €2 billion to refinance debts from its 2018 Volvo AB stake acquisition. This move aligns with Geely's strategy to enhance its upscale product offerings while competing in the electric vehicle market. Despite recent share sales, Geely remains Volvo's second-largest shareholder, with financing talks involving several international banks underway.
Source: YAHOO