Renault raises €3 billion ($4.2B) through sale of stake in Swedish carmaker Volvo

Renault sells $4.2B stake in Volvo

PARIS — French carmaker Renault says it has raised euro3 billion ($4.16 billion) selling part of its stake in Swedish truck maker Volvo AB.

France’s second largest carmaker says in a statement Thursday it sold Volvo stock representing 14.9 percent of the share capital and 3.8 percent of the voting rights at a price of 93 SEK ($13.85) per share.

Renault said it will “remain a major shareholder” with 17.5 percent of Volvo’s voting rights.