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%.
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