Renault reports that it has sold its share in the German Daimler, parent company of Mercedes-Benz. The deal would not further affect the collaboration between the two.
Renault is selling its 16,448,378 shares for € 69.50 each, so the French will receive a total of around € 1.14 billion for the pieces of Daimler. That is good, because improving the financial situation was the aim of this step.
Renault emphasizes that the sale of the shares does not change the cooperation between the two groups. Not much is currently known about what this cooperation should look like in the future, but for the time being there are still deals in the motorcycle and commercial vehicle field.
Similarly, the new Mercedes-Benz Citan will be based on the Renault Kangoo and small Mercedes models will continue to use Renault engines. This no longer applies to the C-class: the all-new model has only German technology under the hood.