Recently, Renault Group stated that it plans to sell approximately 2.5% of Nissan’s shares. The sale of shares is also part of Nissan’s stock buyback plan, and this transaction may generate up to 362 million euros (approximately 2.83 billion) income.
In November 2023, Renault and Nissan stated in a statement that by handing over 28.4% of Nissan’s shares to a French trust company for management, Renault had reduced its shareholding in Nissan from approximately 43% to 15%, thus Put both parties in an equal cross-shareholding position. As part of the deal, Nissan also committed to investing up to 600 million euros ($641 million) in Ampere, Renault’s electric vehicle unit, becoming a strategic investor in the company and obtaining a board seat.
The share sale announced on March 26 is the second time Renault has sold shares in Nissan since the two parties set the above goals. In December 2023, Renault sold approximately 5% of its shares in Nissan for 765 million euros as part of Nissan’s share buyback plan.
It is reported that the latest sale of Nissan shares amounted to 100,242,900 shares, which was part of Renault’s investment of Nissan shares into a French trust fund. Renault noted that the sale of shares is also part of Nissan’s share buyback plan. “This transaction will accelerate the deleveraging process and support the group’s determination to restore its investment grade,” Renault said in a statement. In addition, Renault has the right to sell an additional 180,447,100 Nissan shares to third parties within a 180-day period. , the shares were provided by Nissan but have not yet been repurchased.
