Renault S.A (“Renault”) announces today that it intends to sell its entire stake in Daimler A.G (“Daimler”) (i.e. 16,448,378 shares, representing 1.54% of the share capital of Daimler) through a placement to qualified investors, as defined in Article 2 point (e) of Regulation (EU) 2017/1129 as amended, by way of an accelerated bookbuilding process (the “Offering”).
The proceeds of this sale will allow the Renault Group to accelerate the financial deleveraging of its Automotive activity. The industrial partnership between the Renault Group and Daimler remains unchanged and is not impacted by this financial transaction[1].
The Offering will start immediately following this announcement. Renault will announce the results of the Offering at the end of the bookbuilding process.
SOURCE: Renault
