Geely Automobile (00175.HK) said that it has agreed to acquire 8% interest in the registered capital of each of Zhejiang Jirun, Shanghai Maple Guorun, Zhejiang Kingkong, Zhejiang Ruhoo and Hunan Geely at a total consideration of RMB817.464 million (HK$996.908 million).

After the acquisition, Geely Automobile's interest in those target companies, which are all principally engaged in the research, development, production, marketing and sales of sedans and related automobile components in the PRC, will increase to 99%.