Renault logo in France
Renault and Daimler want to continue to cooperate on vans and transporters.
(Photo: Reuters)
Munich The French carmaker Renault wants to part with its billion dollar package of Daimler shares overnight. 16.45 million papers would be offered to institutional investors in an accelerated placement, Renault announced on Thursday evening.
At the Xetra closing price, the block of shares is worth more than 1.18 billion euros. Renault wants to use the sales proceeds to reduce debt. The exit will not change anything in the partnership with Daimler. The two car manufacturers work together on vans and transporters, among other things.
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