TOKYO: Renault SA has agreed to buy almost half of Brilliance China Automotive Holdings Ltd’s unprofitable minibus unit, giving the French carmaker’s light-commercial vehicles a foothold in the world’s largest auto market.
The companies agreed to invest a combined 1.5 billion yuan (US$221mil) in Shenyang Brilliance Jinbei Automobile Co in proportion to their stakes, Brilliance said in a statement.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!