Renault to Sell about 2.5% of Nissan Shares for Up to 362 Million Euros

REUTERS/Kim Kyung-Hoon/File Photo
Nissan Motor’s electric vehicle (EV) model Sakura is being charged at a charging station in Yokohama, Japan, November 3, 2023.

PARIS (Reuters) – French car maker Renault said in a statement it plans to sell about 2.5% of Nissan’s shares to the Japanese care maker in a deal that could result in a cash inflow of up to 362 million euros ($391.76 million).

The shares to be sold are part of the 24.63% of Nissan’s capital held by a French trust and the sale will be implemented as part of share buyback program announced by Nissan, Renault said.

$1 = 0.9240 euros