Not many of you knew that Renault had some stakes in Daimler. Yeah, that Daimler who owns Mercedes-Benz. But Renault decided it was time to step down. Renault announced the successful sale of its entire stake in Daimler AG (“Daimler”) (16,448,378 shares representing 1.54% of the share capital of Daimler) at a price of 69.50 euros per share (a total amount of c. 1.143 billion euros).
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.
Settlement of the Offering should take place on 16 March 2021 at the latest.
Daimler’s shares are listed on the regulated markets of Stuttgart and Frankfurt.
Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Groupe Renault comprises 5 complementary brands – Renault, Dacia, LADA, Alpine and Mobilize – offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, it currently employs more than 180,000 people and has sold 2,95 million vehicles in 2020.
