01
Jul
05:13
Saudi Aramco buys 10% stake in Renault-Geely ICE JV
Saudi oil giant Aramco is acquiring a 10% equity interest in Horse Powertrain Limited – the new powertrain joint venture of automakers Renault and Geely, Kallanish reports.
The deal values the company at €7.4 billion ($7.9 billion), the companies say in a joint statement. Renault and Geely will each retain 45% equity stakes.
The funds will be used to support the growth of Horse Powertrain Limited and contribute to the development of competi…
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Anonymous
Very good overview of the weekly steel market.
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