With a view to implementing an employee offering, Renault acquires 10% of the 14 million Renault shares sold by the French state
Boulogne-Billancourt, November 3, 2017 – With a view to implementing an employee offering, Renault acquires 10% of the 14 million Renault shares sold by the French State.
03 November 2017 07:45
The French State announced the closing of the sale of 4.73% of the share capital of Renault (i.e., 14 million shares) through a placement to institutional investors by way of an accelerated book building.
This sale evidences the support that the French State as shareholder of Renault gives to the strengthening of the Alliance and it occurs in a consolidated climate of trust among Renault and its main shareholder. This sale is particularly timely in support of the “Drive the Future” strategic mid-term plan, that Groupe Renault just launched.
In accordance with applicable regulation, Renault has decided to acquire 10% of the shares sold by the French State (i.e., 1,400,000 Renault shares), at the placement price, with a view to implementing an offering reserved for employees and former employees of Groupe Renault, in order to allow them to participate in the Groupe Renault’s performance.
About Groupe Renault
Groupe Renault has been making cars since 1898. Today it is an international multi-brand group, selling close to 3.5 million vehicles in 127 countries in 2016, with 36 manufacturing sites, 12,700 points of sales and employing more than 120,000 people. To meet the major technological challenges of the future and continue its strategy of profitable growth, the Group is harnessing its international growth and the complementary fit of its five brands, Renault, Dacia and Renault Samsung Motors, Alpine and LADA, together with electric vehicles and the unique Alliance with Nissan and Mitsubishi. With a new team in Formula 1 and a strong commitment to Formula E, Renault sees motorsport as a vector of innovation and brand awareness.