Volvo merger with Renault imminent
Saturday 19 June 1993
Neither Renault nor the French Industry Ministry would comment officially. However, in an interview with Le Figaro, Gerard Longuet, the Industry Minister, said a merger was 'indispensable' and could precede Renault's privatisation.
The capital structure of the merged group will depend to some extent on plans for Renault's privatisation, which is in the government's programme but has not yet been scheduled.
It is understood that the merger will not result in any change in the status of Renault staff.
For the French side to retain decision-making control, the structure and regulations established for the new group are certain to ensure that Volvo cannot bid in the market for shares held by minority shareholders.
On Thursday the French daily paper Liberation suggested that all Renault shares held by the French state, institutions and private investors would be transferred into a new company, perhaps called Renault Investissement. Renault Investissement would take 55 per cent in a newly created Renault Volvo Holding company, in which Volvo would hold a 45 per cent stake.
Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
World news in pictures
'Swivel-gate': David Cameron at war with press over 'swivel-eyed loons' slur
Revealed: Eerie new images show forgotten French apartment that was abandoned at the outbreak of World War II and left untouched for 70 years
- 1 Heading for America? Prepare for the longest US immigration queues ever
- 2 Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
- 3 You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
- 4 'Swivel-gate': David Cameron at war with press over 'swivel-eyed loons' slur
- 5 It’s official: thanks to Stephen Hawking's Israel boycott, anti-Semitism is no more
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Win anything from gadgets to five-star holidays on our competitions and offers page.
iJobs Money & Business
£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...
£450 - £500 per day: Orgtel: Sourcing Manager - Banking - London - Up to £500p...
To be discussed at interview.: Queen Elizabeth's School: An experienced and ef...
£294.05 - £330.92 per day + 150 per day travel and accommodation: Orgtel: A le...