Renault Group sold to Nissan 99,132,100 Nissan shares for €358 million [Yahoo! Finance]
RENAULT SA UNSP/ADR (RNLSY)
NASDAQ:AMEX Investor Relations:
group.renault.com/en/finance-2
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Source: Yahoo! Finance
After a first sale of Nissan shares on December 13, 2023, Renault Group has completed a second transaction on March 28, 2024 and sold to Nissan 99,132,100 Nissan shares representing approximately 2.5% of Nissan's capital It results in a cash inflow of €358 million, which improves the Automotive net cash financial position and allows faster deleveraging of the Group. It also supports the Group's target to return to an investment grade rating This sale results from the exercise by Nissan of its right of first offer to acquire 99,132,100 Nissan shares following a notice from Renault Group expressing its intention to sell 280,690,000 Nissan shares (representing up to 7% of Nissan capital). Pursuant to the New Alliance Agreement, Renault Group has the option to sell the remainder of the Nissan shares that have not been bought back by Nissan, representing 181,557,900 Nissan shares, during a 180-day period to Nissan or to third-parties. This sale was implemented as part of the share b
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