Geely to acquire Manganese Bronze Business and Assets

Zhejiang Geely Holding Group ('Geely'), the leading Chinese automobile manufacturer, has today acquired the business and the principal assets of Manganese Bronze Holdings ('MBH'), the manufacturer of the iconic London Black Cab, out of administration on a cash-free, debt-free basis for £11.04m.

The deal, which will safeguard production of one of the most distinctive vehicles in the UK, has been agreed with PricewaterhouseCoopers, who were appointed administrators of the business in October 2012.

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