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Freshfields advises Geely on placement of shares in Volvo Cars
Global law firm Freshfields Bruckhaus Deringer (“Freshfields”) has advised Geely Sweden Holdings AB, a subsidiary of Chinese car manufacturer and mobility provider Geely (“Geely”), on the placement of 100 million shares in Swedish company Volvo Car AB (publ) (“Volvo Cars”). Volvo Cars is one of the world’s fastest growing carmakers and has been listed on Nasdaq Stockholm since 2021. Geely is the major shareholder of Volvo Cars.
The shares were placed with institutional investors on 17 November 2023 in an accelerated bookbuilding. The gross proceeds for Geely Sweden Holdings AB from the transaction amount to approximately USD 350 million. After completion of the placement, Geely will continue to hold a stake of approximately 78.7% in Volvo Cars.
Freshfields regularly advises Geely on its international holdings, such as Mercedes Benz or AB Volvo.
The Freshfields team was led by Partner Robin Helmke (Frankfurt) supported by Principal Associate Daniel von Bülow (Frankfurt) (both Corporate). The team also included Partner Simone Bono (Corporate, London) and Counsel Kyle Miller.
