FRANKFURT, March 19 (Reuters) - Volvo CEO Leif Johansson said many parties are interested in buying Renault's 20.7 percent stake in the Swedish truckmaker, according to his interview with a German newspaper on Friday.
A decision to sell the Volvo stake has 'apparently' not yet been made, Johansson told the Frankfurter Allgemeine Zeitung, based on a prerelease of its Saturday edition.
'Apparently, the decision on a sale by Renault has not yet been finally made. If that were the case, I would do everything to make investors enthusiastic about the stake. There are already many interested parties,' he said.
Johansson said it was unlikely that other truckmakers would buy the Renault stake in Volvo due to antitrust issues.
'Therefore I think a financial investor would be the more likely potential buyer of the stake in Volvo,' he said.
Carlos Ghosn, the chief executive of Renault, said on Feb. 11 he would look at divesting assets, but would not be pressured into any sales at unfavourable prices. Ghosn also said he wouldn't be pressured into selling the group's stake in Volvo to boost debt-cutting efforts.
Renault could be considering selling its holding, according to bankers and analysts.
(Reporting by Marilyn Gerlach; Editing by Sharon Lindores) Keywords: VOLVO/RENAULT (Reporting by Marilyn Gerlach; Reuters Messaging; marilyn.gerlach.reuters.com@reuters.net; 00 49 69 7565 1279) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
A decision to sell the Volvo stake has 'apparently' not yet been made, Johansson told the Frankfurter Allgemeine Zeitung, based on a prerelease of its Saturday edition.
'Apparently, the decision on a sale by Renault has not yet been finally made. If that were the case, I would do everything to make investors enthusiastic about the stake. There are already many interested parties,' he said.
Johansson said it was unlikely that other truckmakers would buy the Renault stake in Volvo due to antitrust issues.
'Therefore I think a financial investor would be the more likely potential buyer of the stake in Volvo,' he said.
Carlos Ghosn, the chief executive of Renault, said on Feb. 11 he would look at divesting assets, but would not be pressured into any sales at unfavourable prices. Ghosn also said he wouldn't be pressured into selling the group's stake in Volvo to boost debt-cutting efforts.
Renault could be considering selling its holding, according to bankers and analysts.
(Reporting by Marilyn Gerlach; Editing by Sharon Lindores) Keywords: VOLVO/RENAULT (Reporting by Marilyn Gerlach; Reuters Messaging; marilyn.gerlach.reuters.com@reuters.net; 00 49 69 7565 1279) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
