China's Geely buys UK black cab maker Manganese Bronze

LONDON Fri Feb 1, 2013 3:40am EST

LONDON Feb 1 (Reuters) - China's Geely Automobile Holdings has bought Manganese Bronze, the maker of London's iconic black taxi, for 11 million pounds ($17.5 million).

The deal, which will safeguard production of the vehicles in Britain, was agreed with PricewaterhouseCoopers, who were appointed administrators of the British business last October.

Geely, which was the company's biggest single creditor, said on Friday it would continue to assemble the TX4 model at Manganese Broze's plant in Coventry, in mid-England.