Renault to Sell 5% Tranche of Nissan Stake
16:59 JST, December 12, 2023
PARIS (Reuters) – French carmaker Renault will sell a tranche of around 5% of its stake in Japan’s Nissan as part of a wider rebalancing of the two companies’ long-standing alliance, Renault said in a statement on Tuesday.
The sale will be implemented as part of a share buyback program announced by Nissan, and is to be executed on Wednesday, Renault said.
Renault and Nissan finalized at the end of July the terms of a restructuring of their alliance after months of negotiations, aiming for a downsized, but more pragmatic and agile partnership. Renault Group and Nissan will continue to hold cross-shareholdings of 15%.
"News Services" POPULAR ARTICLE
-
Harris Widens Lead over Trump to 47%-40%, Reuters/Ipsos Poll Finds
-
Israel Declares UN Chief Antonio Guterres ‘Persona Non Grata’ over Iran Attack Response: Foreign Ministry
-
Hezbollah Leader Hassan Nasrallah was killed in Beirut Strike, Israel’s Military Says
-
Foreigners Turn Net Sellers of Japanese Stocks for 2024 on Concerns Over Yen Strength
-
South Korea’s Han Kang Wins 2024 Nobel Literature Prize
JN ACCESS RANKING
- Harris Widens Lead over Trump to 47%-40%, Reuters/Ipsos Poll Finds
- Japan-S. Korea Exchange Festival Held in Seoul
- Japan Trying to Draw Digital Nomads, Who Are Seen as Beneficial to Economy, Society
- JICA Employee Suspected of Leaking Info on ODA Project in Manila; Bidding for Railway Renovation May Have Been Impacted
- Asukayama Monorail in Tokyo: Free to Ride!