Mitsubishi remains under Nissan wing

Mitsubishi remains under Nissan wing

FineAuto

Nissan issued an official statement in which it refuted recent rumors about the possibility of an imminent sale of 34 percent of shares in the Japanese company Mitsubishi.

In a published press release, Nissan denied rumors of a sale of a stake in Mitsubishi: the document says that the trilateral Alliance currently has no plans to change the structure. Earlier, the planned transaction was reported by Bloomberg with reference to anonymous sources familiar with the situation. Insiders claimed that Nissan was going to get rid of a 34 percent stake in Mitsubishi due to a negative Outlook for recovery from the financial crisis caused by the coronavirus pandemic. Representatives of the Japanese company called these rumors speculation.

Nissan also added that the companies continue to work together on plans to transform the business, announced earlier this year – they were named Nissan Next and Small but Beautiful. Nissan acquired a 34 percent stake in Mitsubishi four years ago for $ 2.3 billion. The deal was initiated by the then head of the Alliance, Carlos Ghosn, who simultaneously held senior management positions in Renault, Nissan and Mitsubishi. The scandal with his arrest and dismissal required the development of a new strategy for the development of companies and reducing costs.

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