Aramco to buy 10% stake in Renault-Geely thermal engines JV

Aramco to buy 10% stake in Renault-Geely thermal engines JV

REUTERS/Hamad I Mohammed/File Photo

Oil producer Saudi Aramco will buy a 10% stake in a thermal engines joint venture between French carmaker Renault and Chinese automaker Geely, the companies said on Friday, valuing the business at 7.40 billion euros ($7.93 billion).