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Business deals

Geely signs deal to buy 34% of Renault's South Korea business

Samsung to remain key shareholder despite name being dropped earlier this year

China's Geely Automobile Holdings is buying a stake in Renault Korea Motors in its latest foray overseas and hoping to generate additional income by licensing its technology.   © Reuters

HONG KONG -- Geely Automobile Holdings said Tuesday it will spend over $200 million to buy a 34.02% stake in a joint venture in South Korea between France's Groupe Renault and global conglomerate Samsung Group -- and will have the chance to purchase even more.

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