Renault, Nissan Back More Share Sales in Alliance Loosening [Yahoo! Finance Canada]
RENAULT SA UNSP/ADR (RNLSY)
NASDAQ:AMEX Investor Relations:
group.renault.com/en/finance-2
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The companies will be able to reduce their cross-ownership to 10%, from 15% previously, Renault said Monday. The move allows Nissan to sell as much as one-third of its Renault stake, which could raise around €690 million ($746 million) at current valuations. Renault — still Nissan's biggest shareholder with a 36% stake — has been partially unwinding the partnership amid mounting rivalries and mutual suspicion. The Japanese automaker is under pressure to bolster its finances, refresh an outdated lineup and navigate the upheaval caused by Donald Trump's tariff push. The alliance update comes a day before Nissan gets a new chief executive officer. On Tuesday, Ivan Espinosa will officially replace Makoto Uchida, whose tenure was marked by setbacks including the collapse of a potential tie-up with rival Honda Motor Co. Nissan has repeatedly stumbled since the 2018 ouster of Carlos Ghosn, who pulled the carmaker out of its last brush with disaster in 1999.
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