China's State Administration for Market Regulation on October 12 published its weekly list of unconditionally approved concentration-of-operations cases covering September 21 to September 27, which included Zhejiang Geely Holding Group's acquisition of equity in Ford España, S.L.
According to earlier public disclosure, Geely Holding signed a transaction agreement with Ford to acquire a 34% stake in Ford España, S.L., a company engaged in passenger vehicle operations in Spain. Before the transaction, Ford held 100% of the target and exercised sole control. After completion, Ford and Geely Holding will hold 66% and 34% respectively and jointly control the company.
The deal marks a further step in Chinese automakers' European localization strategy, shifting from pure vehicle export toward local manufacturing and direct operational control of overseas plants. It also underscores the growing role of cross-border M&A review in the industry's outbound investment activities.
Source: State Administration for Market Regulation / Securities Times
