TELETRADER News
10/11/2022, 1:34 PM (Source: TeleTrader)
more TeleTrader news

Report: Nissan requests Renault drop stake to 15%

Nissan Motor Co. Ltd. reportedly asked its largest stockholder Groupe Renault to lower the stake in the Japanese carmaker from 43% to as low as 15%, which is equal to Nissan's stake in Renault.

According to sources cited by Nikkei Asia on Tuesday, Nissan hasn't been satisfied with its position regarding the capital structure for a long time, considering Renault's stake as "too high."

The report comes following the news that Nissan decided to abandon Russian operations by selling its facilities to Moscow for €1 and therefore losing about $687 million.

Baha Breaking News (BBN) / ND