Geely Automobile Holdings to Acquire 34.02% of the Shares of Renault Korea Motors

May 10, 2022 | Zhejiang Geely Holding Group

Renault Group and Geely Auto, China’s largest privately-owned automotive group, have entered into a share subscription agreement and a joint venture agreement subsequent to a framework agreement signed in January 2022 between Renault Group and Geely Holding Group. On completion, Geely Automobile Holdings (0175.hk) via its subsidiary, Centurion Industries Limited, will hold 34.02% of the total issued share capital of Renault Korea Motors (RKM). Renault Group remains the majority shareholder in RKMand will continue to fully consolidate the entity.