Renault issues a statement to sell approximately 5% of Nissan’s shares, worth nearly 765 million euros.

Renault Releases Statement to Sell 5% of Nissan's Shares, Valued at 765 Million Euros

【PhoneAuto News】Recently, Renault announced its decision to sell about 5% of its shares in partner Nissan, with a value of nearly 765 million euros. This divestment is part of Renault’s plan to reduce its stake in Nissan, and Renault stated that it will incur a capital loss of 1.5 billion euros. According to reports, Renault transferred its 28.4% stake in Nissan to a trust fund as early as November, paving the way for the divestment. However, despite this, Renault still has lock-up periods and obligations to suspend debt repayment. Renault CEO, De Meo, previously stated that the share reduction would start quickly in early 2024, but this divestment came a little bit earlier than planned.

The ultimate goal of Renault and Nissan is to adjust their mutual shareholding ratio to 15%, thus resetting the car manufacturing alliance that has lasted for a decade. It is reported that the funds obtained from the sale of Nissan shares by Renault will support the development of Renault’s electric vehicle and software division, Ampere, promoted by CEO De Meo. Renault plans to spin off this division as an independent entity and list it in April or May next year. Nissan has also expressed willingness to invest in Ampere.

For Renault, the funds obtained from the sale of Nissan shares will provide financial support for the development of its electric vehicle and software division, Ampere. Ampere is an important division of Renault, dedicated to promoting the development of electric vehicles and digital services. Renault plans to spin off this division as an independent entity to attract more investors and partners.

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For Nissan, although it is not happy to see Renault reduce its stake, it is also an opportunity to readjust its cooperation with Renault. Nissan can use this opportunity to strengthen cooperation with other car manufacturers and expand its business scope.

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