Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

No major conditions on Renault's state-backed loan, chairman says

Published 06/02/2020, 12:49 PM
Updated 06/02/2020, 12:50 PM
© Reuters. Chairman of Renault SA Jean-Dominique Senard attends a news conference at French carmaker Renault headquarters in Boulogne-Billancourt

© Reuters. Chairman of Renault SA Jean-Dominique Senard attends a news conference at French carmaker Renault headquarters in Boulogne-Billancourt

PARIS (Reuters) - France has not attached any major conditions to a 5 billion euro ($5.6 billion) state-backed loan for Renault , the carmaker's chairman said on Tuesday, although the finance minister called on the company to hold "exemplary" talks with unions.

Renault (PA:RENA) last week unveiled plans to cut about 15,000 jobs worldwide, including 4,600 in France where the company will seek voluntary departures and use retirement schemes.

The announcement sparked weekend protests at some factories, including at Maubeuge in northern France, although Renault Chairman Jean-Dominique Senard has pledged the site will not be closed.

Finance minister Bruno Le Maire said on Tuesday the government wanted Renault's northern France sites to become "centres of excellence".

© Reuters. Chairman of Renault SA Jean-Dominique Senard attends a news conference at French carmaker Renault headquarters in Boulogne-Billancourt

Senard also told franceinfo radio that Renault aimed to present a new strategic plan, including the vision for its brands, by the end of the year, after a new CEO comes on board.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.