Should you be working at a Renault (or Nissan) outfit that is not directly involved in the making and selling of cars, be on the lookout for people from headquarters. Renault is combing its assets all over the world for “non-strategic” ones that could be sold off to raise cash.
Renault SA is reviewing its assets to identify non-strategic ones that might be sold off to help reduce its debt burden, CEO Carlos Ghosn said in Geneva. The Nikkei [sub] says that Ghosn is in no hurry. He wants to wait until his non-strategic assets are worth more money. Renault had a debt load of €6b at the end of 2009, and they want to cut that in half in that garage-sale-in-waiting.
So what could be non-strategic, mused to journos and called up Wikipedia on their Blackberrys. So, how about Renault’s 20 percent stake in Swedish truck maker Volvo?
“I’ll let you draw the conclusion. We’re not a truck maker. We think it’s a great asset,” said the sybillinic Ghosn.
Speaking of non-strategic and Volvo, and lest we forget: Ford’ CFO Lewis Booth said in Geneva they expect to sign with Geely by end of March and close the deal by end of June, reports Reuters.
10 Comments on “Need Some Non-Strategic Assets? Renault Can Use The Cash...”
Back to TopLeave a Reply
You must be logged in to post a comment.
You can also login using Facebook Connect.
…said the sybillinic Ghosn.
Definition please?
sibylline/sibyllinic: of or relating to the ability to prophesy. (usually related to a prophetess or female oracle). Not sure how it fits for Ghosn.
Bertel, kudos for using an adjective that appears only 8(!) times on Google, or, shall we say, the universe! This is what I dug up: “sibylline =ambiguous and obscure”
I get 70 hits on Google for sybillinic …
“sibylline =ambiguous and obscure”
Hah, how ironic. This reminds me of the use of “obfuscate” on this site for the same reason. I swear the authors of TTAC have a twisted desire to use as many unnecessarily difficult words as possible to confuse and irritate its readership. I especially like when they throw around German references for no reason.
I got 80 hits on Startpage. What I didn’t get was a definition (or even a listing) of this word in Dictionary.com. Hence my request.
tsofting’s got it
Didn’t knew Renault was not a truck maker…
They stopped making planes trains and boats… but the trucks… what’s next ? giving up on cars altogether ?
I too was surprised. They bought Mack Truck in the 90s but then, I just found out, merged it with Volvo Truck
renault make cars???
lol
outside of the EU they have zero presense