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Geely Auto Invited to Buy New Manganese Bronze Shares, Take Majority Stake

Geely Automobile Holdings Ltd. said today that it was invited to subscribe for 20 million new shares in Manganese Bronze Holdings PLC, taking its stake in the London-taxi builder to 51.7 percent from 19.97 percent.

Geely will either need to make an offer for all of Manganese Bronze’s shares or obtain a waiver and approval of the British company’s stockholders, according to Geely’s Hong Kong stock exchange filing. Geely said it’s assessing the potential subscription.

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