Renault : third sale of Nissan shares
(CercleFinance.com) - Following two sales of Nissan shares in December 2023 and last March, Renault Group announced that it had completed a third transaction on 27 September, selling 195,473,600 shares to Nissan, representing around 5% of the Japanese automaker's capital.
This sale generates a positive cash flow of E494m, accelerating the group's debt reduction and supporting its objective of regaining an investment grade financial rating.
On its consolidated accounts, the transaction will result in a capital loss of around E1.1bn, which will impact its net income. The impact of this capital loss will not affect the dividend paid in 2025 out of 2024 earnings.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
This sale generates a positive cash flow of E494m, accelerating the group's debt reduction and supporting its objective of regaining an investment grade financial rating.
On its consolidated accounts, the transaction will result in a capital loss of around E1.1bn, which will impact its net income. The impact of this capital loss will not affect the dividend paid in 2025 out of 2024 earnings.
Copyright (c) 2024 CercleFinance.com. All rights reserved.