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The acquisition of a German DAIGn.DE stake shows that the Chinese carmaker is worried about the risk of subverting the industry. S & P global rating in published today entitled "the grand aspirations Road:" motivation behind Geely shares Daimler's report said.
Geely expects that in the next 5 to 10 years, the auto industry will face fierce competition from subversive vehicles, especially those competing in the automotive related online / digital Internet Co. Hu Lizhou, a credit analyst at the S & P global rating, said: "considering the outstanding expertise of Daimler in the field of driverless and new energy vehicle development and other online / digital services, Geely regards it as an ideal partner to achieve future development."
According to the report, the financial impact of the deal on the whole Geely Group may be limited. The Zhejiang Geely Holding Group Company Limited said the company and its subsidiaries did not provide any financial support or guarantee to the merger. Li Shufu, the chairman of Geely Holding holdings, holds a 100% stake in the Geely Group. Geely Group is independent of Geely Holding and its subsidiary Geely Automobile Holdings Ltd (Geely Automobile: BBB-/ stable / -), but there is no stock ownership relationship between the two.
Hu Lizhou said: "in view of the large scale of the M & A and the possible cooperation between Daimler and Jili, we will pay close attention to whether the auspicious entity has begun to provide financial support for the Daimler acquisition. At present, we think the transaction has no financial impact on Geely Holding or Geely. "
Media reports say the Geely Group has accumulated Daimler shares through a combination of stocks and derivatives trading directly from the two level market. We think Li Shufu's immediate cash expenditure is far below $9 billion.
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