Renault secures €5 billion government-backed loan amid job losses, protests
The future of Renault is looking more secure after the automaker finalised a loan for €5 billion ($AUD 8.1 billion), thanks to the French government stepping-in as guarantor. The French government owns 15 per cent of Renault. According to the Reuters news agency, five banks were involved in the deal to provide the credit facility to the French car manufacturer.