Renault will sell a 5% stake in Japan’s Nissan and book an accounting loss of up to €1.5 billion (₽146.1 billion) from the transaction. reports Reuters.
This tranche will be the first in a series of share sales, after which Renault’s share of Nissan shares will be reduced from 43% to 15%. For this, the French company gave 28.4% of Nissan shares to the trust. This share is expected to be sold gradually.
Nissan will buy back 5% of its shares from Renault for €765 million (₽74.5 billion), clarifies Interfax.
Renault and Nissan agreed on the terms of the alliance restructuring in July 2023, after months of talks. They are trying to keep 15% of each other’s shares and want to achieve a smaller but more flexible and pragmatic partnership.
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