ZEEKR Intelligent Technology Holding Limited has set election deadlines for shareholders in its pending merger with Geely Automobile Holdings Limited and Keystone Mergersub Limited. The deadline for ordinary share holders is December 5, 2025, and for registered holders of American Depositary Shares (ADSs) is December 3, 2025. Shareholders may elect to receive cash or Geely shares as consideration; otherwise, holdings will be converted to cash at the agreed rates.
The merger agreement, signed July 15, 2025, was approved by ZEEKR shareholders on September 15, 2025, with 94.2% voting in favor. Geely and its subsidiaries already own about 65.2% of ZEEKR’s outstanding shares. The transaction values ZEEKR at roughly $6.83 billion and is a core component of Geely’s "One Geely" strategy to consolidate brands, eliminate internal competition, and unlock synergies across research and development, manufacturing, and supply chains.
Under the terms, cash consideration is $2.687 per ordinary share and $26.87 per ADS, while stock consideration is 1.23 Geely ordinary shares per ZEEKR ordinary share, or 12.3 Geely ordinary shares per ZEEKR ADS. The merger is expected to close on December 29, 2025, after the election period ends.
Geely’s leadership highlighted the strategic importance of the deal. Chairman Eric Li said the "One Geely Initiative" is advancing smoothly and that the merger lays a stronger foundation for Geely Auto’s future development. CEO Jerry Gan emphasized a focus on investor and user interests, aiming to run the merged operations efficiently and generate long‑term value.
The merger will transform ZEEKR from a publicly listed company into a privately held subsidiary of Geely, allowing it to operate with greater flexibility and focus while benefiting from Geely’s resources. The consolidation is expected to create cost savings, accelerate product development, and expand market reach across different segments and powertrains.
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