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

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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.

($1 = 1,274.3600 won)

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