The rumoured divorce is now finalised. Following a mutual agreement between Renault and Caterham, the former has increased its stake in Société des Automobiles Alpine Caterham to 100%, following acquisition of the interest held by Caterham in the joint venture.
Following the buy out, Renault will now continue to develop its own Alpine sports car to be launched in 2016, as initially planned. Caterham Group, headed by Tan Sri Tony Fernandes, also plans to continue with its own sports car separately. Last month, The Malaysian came out to deny that Caterham is for sale following talk that he was looking to sell the company and F1 team for 350 million pounds (RM1.9 billion).
This acquisition brings to an end to the partnership signed in November 2012 by Renault and Caterham Group to develop and manufacture sports cars through a JV, owned 50/50 by the two partners. Société des Automobiles Alpine Caterham will now change its name to Société des Automobiles Alpine.
Other forms of cooperation could still be envisaged between Renault and Caterham Group in line with each company’s strategic policy directions, the press statement added.