Goldman Investment Lifts Chinese Carmaker GeelyBy
It took four months of negotiations for China's Geely Automobile to sell a 12% stake to a Goldman Sachs (GS) investment fund for $245 million. But the seeds of the deal, announced on Sept. 22, were planted a year ago. On Sept. 29, 2008, one of Geely's Chinese rivals said it had won a $231 million investment from a company controlled by Warren Buffett. That news made little-known BYD an investor favorite, and its stock has since surged 750%.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.