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The Chinese Geely will buy 34% of the capital of Renault Korea for 207 million dollars

Chinese company Geely Automobile Holdings on Tuesday agreed to acquire about 34% of Renault Korea Motors, a unit of French automaker Renault Group, for 264 billion won ($207.16 million), to expand in the market electric vehicles in the country.

Renault Korea Motors will issue 45.4 million shares at 5,818 won per share to Geely Centurion Industries Limited.

The Chinese Geely will buy 34% of the capital of Renault Korea for 207 million dollars comes via ChinaTechNews.com.

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