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Industry: Email Alert RSS FeedRenault increases stake - International Trends - in Sofasa - Brief Article
Automotive Industries, Dec, 2002 by Andrea Wielgat
Renault SA is taking a majority stake in its Colombian joint venture, Sofasa. The French automaker; which had held 237 percent of the company will hold 60 percent when the deal is finalized. Former majority owner Valores Bavaria is selling its stake to Renault and other partners, Toyota Motor Corp.
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and Mitsui. The deal also increases Toyota stake to 28 percent and Mitsui's stake to 12 percent. Sofasa builds Renault passenger cars and Toyota light commercial vehicles at rate of 44,000 vehicles each year.
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