Renault Acquires Caterham Group's Stake In Sport Car Joint Venture
Renault has increased its stake in Société des Automobiles Alpine Caterham to 100%, following the acquisition of the interest held by Caterham Group. Renault will now continue to develop its own Alpine sports car to be launched in '16, as initially planned. Caterham Group also plans to continue with its own sports car. This acquisition ends the partnership signed in Nov. '12 by Renault and Caterham Group to develop and manufacture sports cars through a joint venture, Société des Automobiles Alpine Caterham, owned 50/50 by the two partners. Other forms of cooperation could still be envisaged between Renault and Caterham Group in line with each company’s strategic policy directions. As a result, Société des Automobiles Alpine Caterham will change its name to Société des Automobiles Alpine. The change will be made as part of a general meeting to be held in June (Caterham Group).