Nissan Motor sold its stake in Daimler AG for 1.15 billion euros. The Japanese automaker intends to improve its position with the deal.
The Japanese automaker decided to follow the path of its partner – French Renault, which sold its stake in Daimler AG back in March 2021 for 1.14 billion euros.
Information has been received that Nissan has sold almost the entire volume of securities of Daimler AG, which amounted to 16.4 million shares. The selling price was EUR 69.85 per share. Nissan is currently restructuring and getting rid of surplus assets.
Recall that two and a half years ago, the creator and long-term head of the Renault-Nissan alliance Carlos Ghosn was fired and arrested, and after that the company began to experience tangible problems.
Renault-Nissan Alliance has been cooperating with Daimler AG since 2010. In the same year, Renault-Nissan received a 3.1% stake in the German concern, which was split in half between the French and Japanese companies. It is noteworthy that Daimler AG retained its participation in Renault and Nissan, and the stakes are in the corporate pension fund of Daimler AG.
The proceeds from the sale of Daimler AG shares will be used to strengthen the Nissan brand. The industrial partnership between Nissan, Renault and Daimler AG will continue.
Daimler AG and the Renault-Nissan Alliance have worked on a petrol family of turbocharged engines, a Mercedes-Benz X-Class pickup based on the Nissan Navara architecture, etc.