Renault to sell $1.4 billion Daimler stake to reduce debt PUBLISHED BY Groupe Renault announced Thursday it would sell its 16.45 million stake in Germany’s Daimler AG in order to secure funds for its turnaround efforts after a record annual loss. In an official statement issued late last night, the Renault Groupe said: “Renault SA announces today that it intends to sell its entire stake in Daimler A.G (i.e. 16,448,378 shares, representing 1.54% of the share capital of Daimler) through a placement to qualified investors, as defined in Article 2 point (e) of Regulation (EU) 2017/1129 as amended, by way of an accelerated bookbuilding process.”