The Renault Group announced on Thursday that it sold 99.13 million shares to Nissan, corresponding to 2.47% of its capital, for €358 million.
These Nissan shares are part of the securities that Renault placed in a “trust fund” last November, when the two car manufacturers “rebalanced their cross-shareholdings”, as stated in Renault’s press release.
In this way, 99,132,100 Renault’s own shares changed hands to Nissan, with the sale being made for €358 million.
The disclosed note clarifies that the net liquidity position of Renault’s automotive division will improve with this operation.
However, the sale implies a loss that will affect Renault’s net result in the fiscal year 2024 by around €440 million, according to the French manufacturer. It is made clear, though, that this loss “will not have any effect” on the group’s operational results.
