Renault taking a bigger stake in Samsung Motors

Renault announced Thursday that it was exercising an option to buy an additional 10 percent of Samsung Motors for $54.3 million, boosting its ownership share to 80.1 percent.

By s.waterman@p1data.com
Get Autoblog in your Google feed
Preferred SourceGoogle Discover

Renault announced Thursday that it was exercising an option to buy an additional 10 percent of Samsung Motors
for $54.3 million, boosting its ownership share to 80.1 percent.

Renault Samsung Motors came about when
Renault bailed out the debt-laden Korean automaker in 2000. Renault CEO Carlos Ghosn announced in a visit to RSM in
late November an expansion plan for the company that includes exporting its SM3 model (pictured) under the Nissan brand
in 2006, and co-developing the new C-SUV for both RSM and Renault.

[Sources: Renault, Automotive News]