The Board of Directors of the car manufacturer Renault (& gt; & gt; Renault) held Thursday afternoon a special meeting which will focus on the intention of the French government ‘ increase its influence on the group, said a source familiar with the matter.
On the agenda of this meeting will be the project of the State to obtain double voting rights at the General Meeting scheduled Renault 30 April.
The state announced last week that it had decided to raise its stake in the automaker to almost 20% of the capital to support the adoption of double voting rights to Annual General Meeting of 30 April.
In a statement released on April 8, the Ministries of Economy and Finance announced the acquisition of a maximum of 14 million shares, or approximately 4.73% of Renault’s additional capital for estimated to cost between 814 million and 1.23 billion euros.
The announcement of the state last week was “a shock that surprised everyone,” the Board of Directors of Renault, said the source close to the case.
-Jason Chow, The Wall Street Journal
(French Version Lydia Boucher)
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