Renault sells Nissan shares worth hundreds of millions of euros
The car manufacturer Renault is selling part of its shares in Nissan. In a first step, shares worth up to 765 million euros are to be sold to the Japanese car manufacturer, Renault announced.
The sale is to take place this Wednesday. Renault intends to sell up to 211 million shares, which, according to the announcement, corresponds to around five percent of Nissan's share capital. The shares are part of a package that Renault transferred to a French trust company just over a month ago.
In November, Renault and Nissan concluded a new merger that had been announced some time ago. Above all, it provides for a reduction in the French company's equity stake in the Japanese company. Renault intends to reduce its overall stake in Nissan from a good 43 percent to 15 percent - the same amount the Japanese hold in the French car manufacturer.
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Source: www.ntv.de
