Renault: agreement for joint venture in China.
(CercleFinance.com) - Renault and Brilliance China Automotive Holdings Limited (CBA) have announced a framework cooperation agreement which will cover the main principles relating to a joint-venture for the manufacture and sales of utility vehicles in China.
CBA will acquire 100% of Shenyang Brilliance JinBei Automobile (SBJ), then Renault will acquire from CBA 49% of SBJ. The latter will be then restructured in a joint venture that is 51%-owned by CBA and 49%-owned by Renault.
The Renault group is entering the Chinese utility vehicle market. This promising and high-potential market represents over three million vehicles a year, said Renault's CEO, Carlos Ghosn.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
CBA will acquire 100% of Shenyang Brilliance JinBei Automobile (SBJ), then Renault will acquire from CBA 49% of SBJ. The latter will be then restructured in a joint venture that is 51%-owned by CBA and 49%-owned by Renault.
The Renault group is entering the Chinese utility vehicle market. This promising and high-potential market represents over three million vehicles a year, said Renault's CEO, Carlos Ghosn.
Copyright (c) 2017 CercleFinance.com. All rights reserved.