On December 13, Renault announced that it had sold approximately 138.6 billion A shares of the Volvo Group. The transaction will not affect the long-term strategy and concern of Volvo Group for Renault Trucks. “The act of Renault AG’s sale of shares in the Volvo Group will not change the long-term strategy and focus of the Volvo Group on Renault Trucks,†said Europa Payson, President and CEO of Volvo Group. "The Volvo Group has established a new organization in its network of companies and agents. The position of Renault Trucks in the Volvo Group will be further clarified and strengthened." Ferrite Filter Magnets,Magnetic Filter Rod,Magnetic Filtration Rod,Magnetic Separation Rod Anfeng Industrial Co.,Ltd , https://www.afmagnets.com
Renault holds a total of 138.6 million shares of Volvo Group A shares, which is approximately 6.5%. Because A shares have more voting rights than B shares, this share represents 17.2% of the voting rights; Renault plans to take this part of the shares. It was sold to institutional investors (Institutional Investor) to withdraw debt and improve financial stability.
Renault acquired the shares of the Volvo Group when Volvo Group purchased Renault Trucks and Mike Trucks in 2001. The two truck companies were then known as Renault Commercial Vehicles. Renault AG is one of the owners of the Volvo Group. While the Volvo Group focuses on the development of commercial vehicles, Renault AG will focus on the passenger vehicle business.