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GEELY AUTO Actively Exploring Different Options to Join Geely Holding-Renault Brazil Strategic Co-op Deal
Recommend 23 Positive 33 Negative 15 |
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GEELY AUTO (00175.HK) announced that it had been advised that Geely Holding, its parent company, and Renault, signed a framework agreement, pursuant to which both parties would expand their strategic cooperation in the development and production of zero and low emission vehicles through Renault do Brazil, subject to the terms and conditions of the Framework Agreement. Geely Holding would invest in and become a minority stakeholder of Renault Brazil, gaining access to localized production, service network and channel resources. The Company clarified that it is not a party to the Proposed Transaction and is not partnering with Geely Holding or providing financing to Geely Holding in relation to the Proposed Transaction. Given the potential synergy from the collaboration with Renault and the significant potential of the Latin American market, the Group is actively exploring different options (including but not limited to becoming a contracting party to the joint venture agreement and business cooperation agreement(s)) to be involved in the Proposed Transaction. AAStocks Financial News |
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