Renault to Sign Shareholders Pact for Algeria Plant, Echos Says

Renault SA (RNO) and Algeria will sign a shareholders pact in mid-September as part of a plan to build a factory in the country, Les Echos said, citing Mohamed Benmeradi, Algeria’s industry minister.

The plant will be 51 percent-owned by Algeria’s national investment fund and the Societe Nationale des Vehicules Industriels, and 49 percent-owned by Renault, the newspaper said. Algeria has proposed locating the plant in Oued Tlelat, near the city of Oran, the newspaper reported.

To contact the reporter on this story: Alan Katz in Paris at akatz5@bloomberg.net.

To contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.net.

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