Renault to Sell Up to 2.5% Stake in Nissan
Provided by
Dow Jones
By David Sachs
Renault plans to sell to Nissan up to 2.5% of its stake in the Japanese carmaker as part of its strategy to regain its investment grade rating.
The French carmaker said Wednesday that the group will book a loss of 450 million euros ($487.4 million) from the sale, but a gain of EUR50 million for the listed entity.
The sale, which will include up to 100.2 million Nissan shares, will be conducted as part of Nissan's buyback program, announced Wednesday.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
March 27, 2024 04:34 ET (08:34 GMT)
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