PARIS, Dec 29 (Reuters) -has exercised an option to buy an additional 10 percent in South Korea's Samsung Motors for 55 billion won ($54.3 million), the French carmaker said on Thursday.
is boosting its stake to 80.1 percent by buying a 10 percent holding from former creditors of Samsung Motors.
"The contract has just been signed. We exercised an option that was part of the original deal in 2000," a spokeswoman said.
Samsung Group [SAGR.UL] owns the remaining 19.9 percent of Renault Samsung Motors Inc. (RSM).
The deal is expected to be closed in about a month.
Renault initially bought a stake in 2000 after the South Korean carmaker had collapsed under debts in 1999.
Chief Executive Carlos Ghosn, who will unveil a strategic plan for Renault on Feb. 9, unveiled plans last month to expand the Korean unit, including a rapid increase in exports from next year and developing a sport utility vehicle by late 2007.