Need Some Non-Strategic Assets? Renault Can Use The Cash

Bertel Schmitt
by Bertel Schmitt
need some non strategic assets renault can use the cash

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.

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8 of 10 comments
  • Tsofting Tsofting on Mar 04, 2010

    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"

    • See 1 previous
    • Paradigm_shift Paradigm_shift on Mar 04, 2010

      “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.

  • John Fritz John Fritz on Mar 04, 2010

    I got 80 hits on Startpage. What I didn't get was a definition (or even a listing) of this word in Hence my request.

  • Coligny Coligny on Mar 04, 2010

    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 ?

    • Juniper Juniper on Mar 04, 2010

      I too was surprised. They bought Mack Truck in the 90s but then, I just found out, merged it with Volvo Truck

  • TonyJZX TonyJZX on Mar 04, 2010

    renault make cars??? lol outside of the EU they have zero presense