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Geely May Be Top Contender to Buy Fisker
China's Zhejiang Geely Holding Group is the leading candidate to acquire a majority stake in ailing hybrid vehicle maker Fisker Automotive Inc., according to Reuters, which cites unidentified sources.
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China's Zhejiang Geely Holding Group is the leading candidate to acquire a majority stake in ailing hybrid vehicle maker Fisker Automotive Inc., according to Reuters, which cites unidentified sources.
Bloomberg News reported last week that Dongfeng Motor Corp. has made a $350 million offer for 85% of Fisker. The Anaheim, Calif.-based automaker has said it is considering bids from several continents.
Fisker attracted interest from companies in Europe and South Korea but received firm bids only from the two Chinese companies, according to Reuters. It says both suitors are offering between $200 million and $300 million.
State-owned Dongfeng may not be able to make decisions quickly enough for cash-strapped Fisker, which hopes to reach a deal by mid-March, the news service opines. A source tells Reuters that Geely has the advantage of nimbleness because it has one decision-maker: founder and Chairman Li Shufu.
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