January 23, 2018
China’s Leshi Internet Information & Technology said on Tuesday it is seeking equity stakes in the car businesses of its largest shareholder Jia Yueting for the debts they owe.
Leshi told an investor briefing it was trying to resolve debt owed by Jia and his companies by seeking equity stakes in his businesses, including Faraday Future, Lucid and LeSSEE.
Jia, who founded the LeEco conglomerate that is now struggling to repay debts, no longer holds any position in Shenzhen-listed Leshi but remains its largest shareholder with a 25.67 percent stake.
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