Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Geely Sweden Industry Investment AB, a subsidiary of China based car manufacturer and mobility provider Zhejiang Geely Holding Group ('Geely') on the sale of its entire stake of Class B shares in AB Volvo (‘Volvo’) in an accelerated bookbuilding on 18 April 2024.

The proceeds for Geely from the transaction amount to approximately USD 1.3 billion. After completion of the placement, Geely will remain Volvo’s second-largest shareholder by holding approximately 88.5m Class A shares.

Freshfields regularly advises Geely on its international holdings. Most recently in November 2023, Freshfields advised Geely Sweden Holdings AB on the placement of 100m shares in Swedish company Volvo Car AB.

The Freshfields team was led by Partner Robin Helmke supported by Principal Associate Daniel von Bülow (both Corporate/Capital Markets, Frankfurt).