5/5, 7:11 AM (Source: TeleTrader)
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Nissan to sell its stake in Daimler

Nissan Motor Co. Ltd. announced on Wednesday that it is selling its entire stake in Daimler AG.

The Japanese carmaker noted it will sell 16,448,378 shares, or a 1.54% stake, for €69.85 per share and expects to generate approximately €1.1 billion from the sale.

"The proceeds from the sale will allow Nissan to further strengthen and enhance its business competitiveness, including investments to promote electrification," Nissan said in a press release.

Breaking the News / NP