Changes of Ownership
As part of Renault's restructuring following privatisation in 1996, the heavy vehicles operations of bus and truck were divested. In 1999, the Renault and Karosa bus and coach operations were split off from RVI and merged with Fiat-Iveco's bus and coach operations to form the jointly owned subsidiary Irisbus. In 2003, Irisbus became a full subsidiary of Iveco and the brand Renault on its products was replaced by the brand Irisbus.
On 2 January 2001, Renault V. I. (including Mack Trucks, but not Renault S. A.'s stake in Irisbus) was sold to Volvo, which renamed it Renault Trucks in 2002. As a result, the mother company Renault S. A. was Volvo's biggest shareholder, with a 20% stake, shares and voting rights, but the majority of this was sold in October 2010, leaving a 5.1% stake.
Read more about this topic: Renault Trucks
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