© Reuters. FILE PHOTO: A woman wearing high heel gets out of Geely Automobile Holdings’ Borui sedan during the Auto China 201 show in Beijing, China April 26, 2016. REUTERS/Kim Kyung-Hoon
(Reuters) – China’s Geely Automobile Holdings (OTC:) on Tuesday agreed to acquire around 34% of Renault (EPA:) Korea Motors, a unit of French carmaker Renault Group, for 264 billion won ($207.16 million), to expand into the country’s electric vehicles market.
Renault Korea Motors will issue 45.4 million shares for 5,818 won per share to Geely’s unit Centurion Industries Limited.
($1 = 1,274.3600 won)
Be the first to comment