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Valuation target of 10 billion euros Renault electric car business or IPO in 2023
- China Aluminium Network
- Post Time: 2022/11/10
- Click Amount: 1105
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【Aluminum Road Network】
Renault plans to list its electric vehicle business, Ampere, independently, with a valuation target of around 10 billion euros, according to people familiar with the matter. "The company is gearing up for an initial public offering (IPO) on the Paris bourse next year for its electric vehicle and software business."
Spinning off the electric car business is part of a sweeping overhaul that Renault Chief Executive Luca de Meo will present to investors. It is reported that Renault will brief investors on its reform plan, which is still being finalized, at its Capital Markets Day on November 8.
The breakup of Ampere has been at the heart of negotiations between Renault and Japanese partner Nissan, as the two companies seek to reshape their alliance. Nissan could invest between $500 million and $750 million for a roughly 15 percent stake in Ampere, but the agreement depends on Renault gradually reducing its 43 percent stake in Nissan to about 15 percent to achieve alliance balance, the people said.
At the same time, Ampere's valuation has also been one of the sticking points in negotiations between Renault and Nissan, and the two sides have also encountered obstacles over intellectual property issues. Renault is currently valued at 9 billion euros, so Ampere's valuation above its own may not be easy. The IPO will be subject to market conditions, with recent volatility in stock prices hindering new offerings, the people said.
In addition, de Mayo will unveil details of Horse, Renault's fuel-engine business, which will also be spun off. Renault is likely to pay more money before other investors invest further, according to two people familiar with the matter. Source:
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