Nissan to sell its stake in Daimler

Wednesday, 05. May 2021 07:11

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.

Related Links: Daimler AGNissan Motor Co. Ltd.
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Breaking the News / NP