Exclusive-Renault, Geely expect to finalise combustion engines joint venture deal at the end of February – sources

French carmaker Renault and Chinese rival Geely expect to finalise a deal on their planned combustion and hybrid engines joint venture towards the end of February, two sources close to the matter told Reuters. At the same time, Saudi Aramaco is set to announce the signing of a memorandum of understanding to invest in the joint venture, one of the sources said, a move which would confirm Aramco's letter of intent from March last year. Renault's unit Horse and Geely could end up with 40% of the joint venture each, with the remaining 20% going to Aramco, the source added.