VIENNA â€“ Renault SA acquires the remaining state-owned 12% stake in Societe Marocaine de Construction Automobile (SOMACA), raising its equity in the Moroccan assembler from 54% to 66%. Renault paid about 30 million dirhams ($3.3 million) for the 12%, according to the Moroccan Finance and Privatization Ministry. Renault increased its holding in SOMACA from 8% to 66% in three steps during the past two years. The French company acquired 26% from the Moroccan government in 2003 and 20% from ...
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