/ News, Renault, Volvo / Renault sells its remaining 6.5 percent stake in Volvo Trucks

Renault sells its remaining 6.5 percent stake in Volvo Trucks

Linked In Share
Renault sells its remaining 6.5 percent stake in Volvo Trucks

Renault announced it will sell its remaining 6.5 percent stake in truckmaker Volvo in order to cut its debt and consolidate its financial stability.

The sale of the block of 138.6 million Series A shares is being made via an accelerated book building, Renault said. Goldman Sachs is the only bookrunner. Series A shares carry more voting rights than the widely held B shares.

“After this transaction is completed, the Renault group will no longer hold any shares in AB Volvo,” Renault said in a statement on Wednesday. According to a source familiar with the matter, the shares are being priced between 91.25 and 93.25 Swedish crowns, for a transaction value of about $1.94 billion (€1.48 billion). That price represents a discount of 2.8-4.8 percent on their Wednesday closing price of 95.90 crowns.

Renault said it would use the money to fund domestic and international investments as well as to reduce automotive net debt, which stood at €818 million ($1.1 billion) as of June 30. Renault has held a stake in Volvo since 2001, when it sold its trucks division to the Swedish company in return for shares. Renault Trucks remain a division of Volvo AB.

by Dan Mihalascu (my Google+) - Wednesday, December 12th, 2012 - filed under News, Renault, Volvo. Image credit: .
Linked In Share
Related Articles
goldman sachs Renault renault trucks sweden swedish company transaction price Volvo volvo ab volvo trucks


Discuss: Renault sells its remaining 6.5 percent stake in Volvo Trucks

Leave a Reply


















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

New fatal accidents occur in GM’s recalled cars
New fatal accidents occur in GM’s recalled carsWhile the company has been arguing a lawsuit that wants a judge to tell the company to advise customers to park all recalled cars ...
General Motors Shares Fall to Near IPO Price of $33
General Motors Shares Fall to Near IPO Price of $33General Motor's ongoing investigation and turmoil have worried investors, leading to a shares drop under $33 IPO price for the ...
New Lexus NX crossover goes after China’s wealthy
New Lexus NX crossover goes after China’s wealthyThe world’s largest market has become a must have for all global automakers, so there’s no surprise the just announced Lexus ...
Ford Quietly Replaces Lincoln’s Chief Designer
Ford Quietly Replaces Lincoln’s Chief DesignerThe Lincoln brand, which has started a $1 billion overhaul, will have a new design director, who will replace Max Wolff. Max ...
ABT updates the Audi RS5 Cabrio to 290 km/h
ABT updates the Audi RS5 Cabrio to 290 km/hABT Sportsline has just announced a new set of updates for the new Audi RS5 Cabriolet. ABT, the largest tuner of VW brand ...
GM places two engineers on leave in ignition switch recall
GM places two engineers on leave in ignition switch recallThe company announced that two of its engineers, identified by Reuters as Ray DeGiorgio and Gary Altman, have now been placed on ...
Report: Renault could reduce its workforce at French factory
Report: Renault could reduce its workforce at French factoryFrance’s second biggest automaker, Renault, is considering – according to a report from French business daily Les Echos – ...
BMW Recalls 156.000 Vehicles in the US to Check Bolts
BMW Recalls 156.000 Vehicles in the US to Check BoltsGerman automaker BMW said he decided to voluntarily recall no less than 156,000 vehicles in the US, among which the 3 Series ...
Lexus unveils the new turbocharged NX Compact SUV
Lexus unveils the new turbocharged NX Compact SUVLexus has just unveiled the new 2015 Lexus NX compact crossover – the brand’s first compact model powered by a turbocharged ...
China sales in March reach estimates
China sales in March reach estimatesWith a growing consumer panic that further cities would impose caps on new car registrations, passenger-car sales were up last ...
Recall triggers big shares fall, big charge in Q1 for GM
Recall triggers big shares fall, big charge in Q1 for GMThings are not looking well for General Motors, which has been widely panned for the recall over a defective ignition switch. ...
Renault-Nissan wants a big piece of the US market
Renault-Nissan wants a big piece of the US marketWhile traditionally Nissan is the main player of the alliance in the very competitive US market, the recent development within ...
BMW, Ford considering F1 return – reports
BMW, Ford considering F1 return – reportsApr.11 (GMM/Inautonews.com) BMW and Ford could each be eyeing a return to formula one, according to reports. The BMW rumour has ...
Sauber’s female driver to make F1 test debut
Sauber’s female driver to make F1 test debutApr.11 (GMM/Inautonews.com) Simone de Silvestro will shortly make her formula one test debut. The 25-year-old female Swiss ...
Title sponsor removed from Force India sidepods
Title sponsor removed from Force India sidepodsApr.11 (GMM/Inautonews.com) Force India has denied it is set to split with its title sponsor Sahara. The Indian conglomerate is ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Audi-ABT_RS5_Cabrio_006
2015 Lexus NX Interior
Spy-Shots of Cars
land_rover_discovery_vision_
Spy-Shots of Cars
Bugatti Legende ?Black Bess?
2015 kia sedona carnival 1
Spy-Shots of Cars
Peugeot Exalt Concept 1
2015 Ram Power Wagon 1
Bentley Hybrid Concept 1
2015 Chevrolet Silverado High Country HD 1

More automotive from inautonews
While the company has been arguing a lawsuit that wants a judge to tell the company to advise customers to park all recalled cars with the ignition switch problem, safety advocates have found out that two new fatal crashes have involved the recalled cars. Both incidents present one of the traits ...
read more
Inautonews Editors Section
Do you have £200,000? Then you can have the trip of a (hazardous) lifetime
Do you have £200,000? Then you can have the trip of a (hazardous) lifetimeAre you tired of the ever-boring home to work commute? Well, if you’re the adventurous type and can afford the paycheck, the world's most hazardous ...
Check out the everyday cars of St. Moritz – photo gallery
Check out the everyday cars of St. Moritz – photo gallerySt. Moritz is the oldest winter holiday destination in the world – and on the same time it is probably the most expensive ski resorts in the ...
Test Drive: Renault Captur 0.9 – TCe 90 – fast review
Test Drive: Renault Captur 0.9 – TCe 90 – fast review After we’ve tested almost all Renault Captur models, we decided to check out the 3-cylinder engine - 898 cc 66kw (90 hp) model. Why we’ve ...

Editors Section
Inautonews Editors Section
2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video] 2009 safest cars Euro NCAP

Latest in Safety New fatal accidents occur in GM’s recalled carsWhile the company has been arguing a lawsuit that wants a judge to tell the company to advise ... BMW Recalls 156.000 Vehicles in the US to Check BoltsGerman automaker BMW said he decided to voluntarily recall no less than 156,000 vehicles in the US, ...
Safety Section