Categories: Business

Renault to sell 34% of Korea unit to China’s Geely for $207 million By Reuters

[ad_1]

Renault to sell 34% of Korea unit to China's Geely for $207 millionRenault to sell 34% of Korea unit to China's Geely for $207 million© 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) -Renault will sell just over a third of its Korea unit to China’s Geely Automobile Holdings (OTC:) for 264 billion won ($207 million) as the French automaker looks to shore up sales in its home market and focuses on its electric business.

The deal also comes months after Geely and Renault (EPA:) announced a partnership to develop a lineup of hybrid vehicles for the South Korean market and abroad, produced at Renault’s factory in Busan.

Renault Korea Motors will issue 45.4 million shares at 5,818 won per share to Geely’s unit Centurion Industries Limited, the two companies said in a statement on Tuesday.

($1 = 1,274.3600 won)

[ad_2]
Source link
AddThis Website Tools
Admin

Recent Posts

Levitra Dosage: Guidelines for Safe Use

Levitra, a widely recognized medication for treating erectile dysfunction (ED), has proven to be a…

2 days ago

Practical Tips for Carpet Cleaning on a Budget

Have you ever looked down at your carpet and wondered if there’s a budget-friendly way…

4 weeks ago

The Best CSGO Case to Open in 2025: Top Picks for CS2 Skins

Counter-Strike 2 (CS2) has elevated the thrill of case openings, captivating both seasoned CS:GO veterans…

1 month ago

The Most Common Deal Breakers That Make Buyers Walk Away When I Sell My Car Online in Little Rock, AR

Trying to sell a car online should be simple, but sometimes buyers lose interest fast.…

1 month ago

Why Free Spider Solitaire is the Perfect Game for Quiet Evenings

In the hustle and bustle of modern life, finding moments of quiet solace can feel…

2 months ago

Syracuse Guide To Socializating Your Dog

You have probably heard on the importance of socializing dog after getting a puppy. It…

2 months ago