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Tue 07 Jul 2007Cullen to lose €175m revenues in takeover by RenaultMillionaire motor distributor Bill Cullen will lose annual revenues of approximately €175 million as a result of Renault's decision to take control of its Irish franchise from his group Glencullen.Owner of the Irish distribution rights for the Renault marque since 1986, Glencullen will lose the franchise when its five-year contract runs out at the end of next year. The company, which claims annual revenues of some €350 million, will not receive any payment for the termination of this business.