HONG KONG, March 28 Chinese car maker Geely
Automobile Holdings (0175.HK) will pay up to about A$58 million
($40.22 million) for its acquisition of Australian automatic
transmission supplier Drivetrain Systems International (DSI).
Geely will pay around A$47.4 million in cash for DSI, but
may factor in other unspecified costs such as debt and other
final financial considerations, the fast-growing mid-sized
Chinese car maker said in a stock filing late on Friday.
The auto maker had earlier on Friday announced its
acquisition of DSI, but had not provided financial details of
the transaction. [ID:nSHA73531]
Geely, which is trying to shake off its image as a purveyor
of low-priced cars, is one of several ambitious Chinese
automakers keen on expanding into developed markets.
($1=1.442 Australian Dollar)
(Reporting by Rafael Nam; Editing by Ben Tan)