The French group RENAULT and the Italian FIAT have officially announced the planned acquisition by IVECO, FIAT subsidiary, of the 50% stake held by RENAULT in IRISBUS, joint venture between the two groups. The price of the transaction was set at EUR 175 million. IVECO will increase its stake to 65% then buy the remaining 35% at the end of December 2002. This operation follows on from the decision by the European competition authorities to allow the alliance between RENAULT and VOLVO in heavy...