Aramco to acquire 10% equity interest in HORSE Powertrain Limited, the new global powertrain solutions company established by Renault Group and Geely [Yahoo! Finance]
RENAULT SA UNSP/ADR (RNLSY)
NASDAQ:AMEX Investor Relations:
group.renault.com/en/finance-2
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Source: Yahoo! Finance
Aramco has signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Limited (“HORSE”) valuing the target at €7.4 billion enterprise value. Renault Group and Geely each retain 45% equity stakes. The investment by Aramco will support the growth of HORSE Powertrain limited and contribute to the development of competitive powertrains and synthetic fuel solutions. HORSE Powertrain Limited is expected to have an annual production of five million powertrain units, encompassing a complete portfolio of advanced powertrain technologies for partners around the world. DHAHRAN, Saudi Arabia, Hangzhou, Hong Kong SAR, China, Boulogne-Billancourt, France and London, United Kingdom, June 28, 2024 – Aramco, one of the world's leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Limited, the new global powertrain solutions company, alongside Renault Group, Zhejiang Geely Holding Group and
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