Categories: News

After Renault, Nissan also sells its stake in Daimler

A few weeks after Renault, its Alliance partner, Nissan, in financial difficulty, in turn announced the sale of its 1.54% stake in the German group Daimler (Mercedes).

Nissan’s turn. The Japanese manufacturer has just announced the sale for around 1.15 billion euros of its stake 1.54% in Daimler (Mercedes).

Nissan follows Renault’s example

Two months ago, in mid-March, it was its Alliance partner, Renault, which had taken such a decision by selling its shares in the German automobile group in order to ” accelerate the deleveraging of its automotive division“. As with Nissan, this represented 16,448,378 shares, i.e. 1.54% of Daimler’s capital.

A need for liquidity

Nissan, which seeks to become profitable again and to turn the page on the scandals of the Carlos Ghosn era, intends to devote the proceeds of this sale to ” strengthen and develop its competitiveness, in particular through investments to promote electrification“, Said the Japanese in a press release.

The Japanese manufacturer plans a net loss of 530 billion yen, or about 4 billion euros, for its 2020-2021 fiscal year ended at the end of March, the final results of which it must announce next week.

Industrial cooperation with Daimler continues

Despite this capitalist withdrawal from Daimler, however, Nissan has assured that it would continue its industrial cooperation with the German giant.

Source: AFP

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