Börse Express – ROUNDUP: Renault sells Daimler shares and wants to reduce debt

The ailing French car maker Renault has the last good run of Daimler
Shares and sold his remaining stake in the group. The French are their share of around 1.54 percent of the share capital of the Dax -Group got rid of for 69.50 euros per share, as Renault announced on Friday in Paris. With a good 16.4 million Daimler shares sold, the automaker took in 1.14 billion euros.

At Daimler’s Xetra closing price on Thursday at 72.09 euros, the total package of shares would have been around 1.19 billion euros. Usually, however, discounts have to be accepted for large placements. The Daimler share has gained more than 60 percent since the beginning of November alone.

The share package was placed with professional investors by means of an accelerated offer process. The automaker wants to use the proceeds to reduce its debts. The industrial partnership with Daimler is not affected by the transaction, it said.

Renault last year mainly because of the deep red numbers with its Japanese partner Nissan and suffered a record loss of 8 billion euros due to the Corona crisis./eas/men/mis

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AXC0063 2021-03-12/08:42

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