Daimler Sells Renault Stake for EUR305 Million
11 Novembro 2021 - 7:51AM
Dow Jones News
By Kim Richters
Daimler AG said Thursday that it has sold its entire stake in
French peer Renault SA for around 305 million euros ($350.2
million).
The German luxury auto maker launched an accelerated bookbuilt
offer to institutional investors after market close on Wednesday,
selling all of the around 9.2 million ordinary shares it held in
Renault.
Daimler said the industrial partnership between the two auto
makers isn't affected by the transaction.
The divestment comes after Renault earlier this year sold its
entire stake in Daimler for about EUR1.14 billion.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
November 11, 2021 05:36 ET (10:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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