Renault Plans to Sell Entire Stake in Daimler
March 11 2021 - 12:28PM
Dow Jones News
By Giulia Petroni
Renault SA said Thursday that it plans to sell its entire stake
in Daimler AG through an accelerated bookbuilding process.
The French auto maker said the sale proceeds will allow it to
accelerate the deleveraging of its automotive activity. The stake
represents 1.54% of Daimler's share capital.
The offering is set to start immediately and settlement is
expected to take place on March 16, at the latest.
Renault said the transaction won't affect its partnership with
Daimler, which remains unchanged.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 11, 2021 12:13 ET (17:13 GMT)
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