It is reported that the acquisition consideration is about 264 billion won (about 1.376 billion yuan), which is equivalent to the price of 5818 won per target share (about 30.3 yuan per target share). After the transaction closes, Geely Automobile will hold a 34.02% stake in Renault Korea Motors through its subsidiary, Centurion Industries Limited. Renault Group will remain the majority shareholder, and Renault Korea Auto will continue to be consolidated by Renault Group.
The parent companies of the two parties, Geely Holding Group and Renault Group, announced in January 2022 that they will launch high-efficiency and energy-efficient fuel and smart hybrid models in the Korean market, and plan to launch the above products in overseas markets. The new product will use geely's world-class CMA modular architecture developed at its R&D center in Sweden and will be produced at Renault Samsung's plant in Busan, South Korea, with mass production expected in 2024. The cooperation will further strengthen the cooperation between Renault Group and Geely Automobile. (Photo/Text/Photo: Liu Yunqing, Pacific Auto Network)