Renault: the state will sell 5% stake – The Tribune.fr

In an interview with the newspaper Le Monde , Emmanuel Macron, the Minister of Economy, ensure that 5% of Renault’s capital acquired last spring will be transferred:

“We give in the 5% of Renault acquired in the spring to ensure the adoption of double voting rights”

In April, the State had increased to nearly 20% stake in Renault, which it held until 15%. This has enabled it to guarantee the rejection at the annual general meeting of the group, a resolution aimed at preventing the allocation of double voting rights for shareholders attending the last two years in the capital. A provision under the Florange law, enacted March 29, 2014, and aims to prevent speculation and support the long-term share ownership. It thus provides the widespread double voting right for shareholders who hold their shares for more than two years.

“This transaction marks both the will of the state to defend its interests as a shareholder, weighing in favor of the introduction of double voting rights in the governance of Renault, and the strategic nature it attaches to its participation in the capital of this large company industrial “, then explained the state interests of the Agency in a statement.

At the time, the government had also indicated that it does was not intended to keep these additional actions.

In this interview with the World , the economy minister also hinted that the objective of € 5 billion of privatization revenues in 2015 would be reached, “ we have already achieved half of our target “, he assured. In addition to the cessation of 5% of Renault, Emmanuel Macron has announced “rapidly” of “ Construction privatization of airport management companies . “

” I actually met with all of elected officials and shareholders of Lyon and Nice in recent days. The operation will end in 2016 ” , explained the minister daily in the evening.

With these recipes, Emmanuel Macron ensures that the government wants to reinvest “ in priority areas such as the digital and the energy transition” he said to our colleagues of the World.