Nissan to Buy Back $824 Million Stake From Renault
12 12월 2023 - 5:27PM
Dow Jones News
By Adria Calatayud
Renault plans to sell a 5% stake in Nissan Motor back to the
Japanese carmaker for up to 765 million euros ($823.6 million).
The French company said Tuesday that the sale of the Nissan
shares could result in a capital loss of up to EUR1.5 billion which
would hit net profit in its own accounts. This is the maximum
amount and could be adjusted at year-end, Renault said.
Renault's estimates for the value of the sale and its expected
impact assume 211 million Nissan shares are sold at a share price
of 568.5 Japanese yen ($3.89),it said.
Renault said the 5% stake in Nissan it is selling back to its
Japanese partner is part of a 28.4% stake it transferred to a
French trust last month. The sale will be implemented as part of a
Nissan share buyback, Renault said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
December 12, 2023 03:12 ET (08:12 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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