Renault sale its entire stake in Daimler

Renault vende l'intera partecipazione in Daimler

Renault completed with success the sale of its entire sake in Daimler AG, 16,448,378 shares representing 1.54% of the share capital of Daimler.

The sale has been completed at a price of 69.50 euros per share (i.e., a total amount of c. 1.143 billion euros), 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 transaction1.

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 (ISIN code: DE0007100000).

1 Except for the waiver (to ensure reciprocity among the two companies) of the obligation for Daimler to propose first to Renault to acquire its shares in case of a sale through a capital markets transaction.

Source: Renault

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