Volvo CEO says many interested Renault stake
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 February 11 he would look at divesting assets, but would not be pressured into any sales at unfavorable 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.
2009 Los Angeles Auto Show
If the North American auto show season has an official kickoff party, the Los Angeles Auto Show is it. In addition to world debuts of the 2011 Cadillac CTS Coupe, 2011 Toyota Sienna and VW Up! Lite Concept, the 2009 LA Auto Show again played host to the Green Car of the Year announcement, which went to a diesel car for the second year in a row. The LA Auto Show is also a first chance to see and touch the cars unveiled around the world in the eight months since the New York Auto Show, which this year included jaw-droppers like the 2011 Lexus LFA and 2011 Mercedes-Benz SLS AMG.
