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.
Read also:
- Year of climate records: extreme is the new normal
- Precautionary arrests show Islamist terror threat
- SPD rules out budget resolution before the end of the year
- Numerous oil, gas and coal lobbyists at climate conference
This equity investment from Renault is expected to generate over 765 million euros. The sale includes a significant portion of Renault's shares in Wörth's manufacturing site in Germany, which produces Nissan vehicles. The proceeds from the sale will largely be used for Renault's future equity investments.
Source: www.ntv.de
