By Cristina RocaDaimler AG intends to sell its entire stake in French rival Renault SA, it said in a statement Wednesday. The German luxury auto maker said it would launch an accelerated bookbuild offer to institutional investors after market close on Wednesday. Daimler's pension trust holds 9.2 million shares in Renault, worth 315.6 million euros ($366 million) based on the stock's Wednesday closing price of EUR34.30.

Source: Wall Street Journal November 10, 2021 22:21 UTC