Renault has sold its remaining stake in Swedish truck maker Volvo AB for 1.5 billion euros to cut debt and make strategic investments.
The French company, which previously held 17.2% of the Swedish company's voting rights, earlier sold a stake of 14.9% in Volvo for three billion euros.
AAP reports Renault acquired the stake by selling its truck unit to Volvo in 2001. Renault had owned the Saviem and Berliet brands.
Renault sales fell by 18% in October. However, the company's debt has dropped steadily from eight billion euros in 2008 to about 818 million euros at the end of the first half of 2012.
AAP reports the company said it will also make strategic investments overseas, notably in Russia and China, and focus on top of the range cars and electric vehicles.
Volvo AB employs some 100,000 people at factories in 20 countries. Last year, Volvo AB posted a net profit of 2 billion euros on sales of 34 billion euros.