Renault S.A. (Renault) has sold its entire stake in Daimler AG (Daimler) (i.e. 16,448,378 shares representing 1.54% of the share capital of Daimler) 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 transaction, 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.
Settlement of the Offering should take place on 16 March 2021 at the latest.