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Old 05-23-2019, 01:21 PM   #31
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Default Renault-JMEV

According to Jiangxi provincial govt., Renault has signed an agreement to invest 1 bn RMB in JMEV. Earlier in February, the Ministry of Commerce announced that Renault had made an application to acquire 50% of Jiangxi Jiangling Group New Energy Automobile Co., Ltd. and that the latter will become a Sino-Foreign joint venture. It is not known if any of the current owners is selling a portion of its holdings or if this will be freshly issued capital.



Last edited by dmitra; 05-23-2019 at 03:18 PM. Reason: typo
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Old 07-18-2019, 07:28 AM   #32
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Renault becomes largest shareholder by formally acquiring 50% of JMEV* with an investment of 1 billion RMB (128.5 million euros). The stakes of Jiangling Motor Group Co. and China Agricultural Development Key Construction Fund^ are reduced to 37% and 13% respectively (down from 59% and 41%).

Nanchang ETDZ SASAC, i.e. the local administration, which used to hold a small stake in JMEV, exited the company in January 2019.


*officially JMEV becomes a joint venture
^an intermediary of Agricultural Development Bank of China

Last edited by dmitra; 07-18-2019 at 07:31 AM.
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Old 04-20-2020, 03:43 AM   #33
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