Renault sells 2.5% of Nissan for 358 million - Industry and Analysis

2024-03-28T11:45:55.684Z

Highlights: Renault sells 2.5% of Nissan for 358 million. The sale took place as part of the new alliance agreement between the two groups. The Japanese group will carry out the cancellation of the shares on 3 April 2024. Renault group expects a capital loss from the sale of approximately 440 million euros, which will impact its net profit. On the balance sheet of Renault SA there is a capital gain from the sell-off of approximately 50 million euros. The Renault group completed the second operation under the share buyback program.

Renault sold 99,132,100 Nissan shares, equal to 2.5% of the capital, which were purchased by the same Japanese group for 358 million euros. The sale took place as part of the new alliance agreement between the two groups. (HANDLE)