Renault: EU clears acquisition of Renault Korea Motors

(CercleFinance.com) - Under EU Merger Regulations the European Commission has approved the acquisition of joint control of Renault Korea Motors, based in South Korea, by Renault, and Geely Automobile, based in China.


Renault Korea Motors manufactures and markets passenger cars in South Korea and exports them to neighbouring Asian countries.

Meanwhile, Geely Automobile manufactures and markets passenger cars worldwide.

The Commission concluded that the proposed acquisition would not raise competition concerns as Renault Korea Motors has no activities in the European Economic Area.


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