SEOUL (AFX) - Renault SA plans to buy the entire 10 pct stake in Renault Samsung Motors Corp owned by local creditors in January for 55 bln won.
The equity purchase, to be completed by January 18, will boost Renault's stake in the South Korean carmaker to 80.1 pct.
"Renault has informed us that they will exercise a call option for another 10 pct stake in line with the 2000 agreement between Renault and creditors of Samsung," a Seoul Guarantee Insurance Corp official said.
The French auto group bought a controlling stake in Samsung Motor Inc for 615 bln won five years ago.
eunkyung.seo@xinhuafinance.com
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The equity purchase, to be completed by January 18, will boost Renault's stake in the South Korean carmaker to 80.1 pct.
"Renault has informed us that they will exercise a call option for another 10 pct stake in line with the 2000 agreement between Renault and creditors of Samsung," a Seoul Guarantee Insurance Corp official said.
The French auto group bought a controlling stake in Samsung Motor Inc for 615 bln won five years ago.
eunkyung.seo@xinhuafinance.com
seo/wk
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
