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Press release from the Competition Council regarding the project of creation
of a joint venture by Volvo Business Services International A.B.
and Renault S.A.S.
In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “summary of the operation” below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups involved:
– Volvo Business Services International A.B.;
– Renault S.A.S.
Nature of the operation
– Creation of a joint venture.
Economic sector concerned
– Manufacturing and supply of light commercial vehicles.
Deadline for interested third parties to submit their observations
– 10 days from the date of publication of this press release, i.e. December 4, 2023.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE
PARTIES
The Competition Council has received notification of an economic concentration operation by which the Volvo Group and the Renault Group, respectively through the companies “Volvo Business Services International AB (AB Volvo)” and “Renault S.A.S. (Renault)”, plan to create a fully-fledged joint venture, jointly controlled, which will be active in the development, production, and sale of a new range of light commercial vehicles and related logistics services.
AB Volvo is a multinational industrial company headquartered in Sweden. Through its holdings in Volvo Group companies, AB Volvo is globally active in the manufacture and sale of on-road and off-road trucks, buses, construction equipment, marine engines, non-road industrial engines and power generation, and engines for road vehicles.
Renault is the parent company of the Renault Group, a French multinational automotive manufacturer headquartered in France and present in 134 countries.
Done in Rabat on November 23, 2023
