Renault: to sell about 5% of Nissan's share capital

(CercleFinance.com) - Renault Group announces its intention to sell up to 195,473,600 Nissan shares to Nissan, i.
e. about 5% of Nissan's share capital. The group already completed two sales of Nissan shares on 13 December 2023 and 28 March 2024.

This sale will be implemented as part of the share buyback program announced by Nissan on 26 September 2024, which will be completed on 27 September 2024.

Nissan says it has decided to cancel the shares acquired, which will have an accretive effect for its shareholders.

Assuming a Nissan share price of 408.5 yen (Nissan share closing price on 26 September 2024 restated by 5 yen) and a disposal of a maximum number of Nissan shares of 195,473,600, this disposal would represent a positive cash flow of up to E494m at the transaction date.

This transaction will accelerate the group's debt reduction and support its determination to regain an 'Investment grade' financial rating, it says.


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