Renault to go private
3rd June 1993, Page 12
3rd June 1993
Page 12
Page 12, 3rd June 1993
— Renault to go private
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• Renault is due to be privatised later this year under French government plans to raise cash in a bid to stimulate its economy, The company says it is too early to say how the sale will be packaged, but insiders believe interested parties will be prevented from gaining overall control.
Until now foreign shares in French companies have been restricted to
20°,0. That control is being dropped in a bid to encourage foreign interest in the sale of Renatih and 20 other state-owned enterprises.
The company owns a 450o stake
in cash-starved Volvo which it could extend after privatisation to both companies' advantage.
Renault's automotive arm, RVI, lies in fourth place in the European sales league.