Home / Business

Geely announces vehicle financing venture with BNP Paribas

By Li Fangfang | China Daily | Updated: 2013-12-18 07:01

China's privately owned Geely Automobile Holdings Ltd said on Tuesday that it has entered into an agreement with the personal finance subsidiary of France's biggest lender, BNP Paribas SA, to form an auto financing venture, providing services to Chinese car buyers.

According to a joint statement filed with the Hong Kong Stock Exchange, registered capital for the venture will reach 900 million yuan ($148 million), of which 80 percent is coming from Geely Automobile for an equal stake, with BNP Paribas Personal Finance providing and holding the balance.

The deal is still pending the approval from relevant Chinese authorities, including the China Banking Regulatory Commission.

Geely announces vehicle financing venture with BNP Paribas

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349