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Daimler pension trust sells 3.1% stake in Renault -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Daimler’s logo can be seen at the Daimler Annual Shareholder Meeting in Berlin (Germany), April 5, 2018. REUTERS/Hannibal Hanschke//File Photo

FRANKFURT, (Reuters) – German carmaker Daimler (OTC) announced Wednesday that its pension trust will sell any shares in French peer. Renault (PA:), and its industrial partnership wasn’t affected by the transaction.

Through an accelerated bookbuild, institutional investors would be able to purchase approximately 9.2 Million Renault shares by the pension trust.

According to filings, the stake was 3.1% of Renault’s share capital and approximately 5% of its voting rights.

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