Is Geely the Largest Shareholder of Mercedes-Benz?
1 Answers
Geely is the largest shareholder of Mercedes-Benz based on the following points: 1. High shareholding ratio of Geely Group: Currently, Geely Group has acquired a 9.69% stake in Daimler through its overseas capital entity, along with voting rights. This move makes Li Shufu's Geely Group the largest shareholder of Daimler Group, the parent company of Mercedes-Benz! Although the low-profile Geely Group has stated that the transaction still needs approval from Chinese regulatory authorities. 2. High value of Geely Group's shares: Recently, Geely Group Co., Ltd. (owned by Li Shufu and managed by Zhejiang Geely Holding Group Co., Ltd.) announced that it has acquired a 9.69% voting stake in Daimler AG (hereinafter referred to as "Daimler"). This makes Geely the largest single shareholder of Daimler through its overseas company entity. At current market prices, the total value of these shares is approximately $9 billion, which also makes Geely Group the largest single shareholder of Daimler. 3. Regulatory approval: Regulatory documents show that Geely Group holds voting rights for more than 103.6 million shares. So far, Geely has fully acquired Volvo Cars, acquired an 8.2% stake in Volvo Group to become its largest shareholder, acquired Proton and Lotus, acquired Terrafugia flying car company, and acquired a 9.69% stake in Daimler to become its largest shareholder. Geely has strategically positioned itself in the high/mid/low-end markets, sports car market, and technology companies.