Renault buys Samsung SEOUL — Renault SA becomes the first foreign automaker to break into the Korean market after striking a deal with Samsung Motors Inc. The French automaker purchased the insolvent carmaking arm of South Korea's Samsung Group for a reported US$550 million, some US$100 million to be paid up-front in cash. Reports say Renault has purchased a 70% stake in the company, while Samsung will retain 20%, and Samsung's domestic creditors will hold a 10% stake. The deal, approved ...
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