In the context of the input sentence, determine the relationship between 'Geely' and 'Li Shufu'.
Options: location of formation, owned by, original broadcaster, business division

At the time of the transaction closed last year, Geely Holdings total cash cost basis to acquire at 78% equity was up around $330 million, which happened to be more than Li Shufu paid to acquire his initial controlling equity interest in Geely Auto, London Black Cab Company, Proton and Lotus all combined.
owned by