https://sputnikglobe.com/20210505/nissan-sells-daimler-shares-for-over-13-billion-to-boost-business-competitiveness-1082805976.html
Nissan Sells Daimler Shares for Over $1.3 Billion to Boost 'Business Competitiveness'
Nissan Sells Daimler Shares for Over $1.3 Billion to Boost 'Business Competitiveness'
Sputnik International
MOSCOW (Sputnik) - Japan's Nissan Motor announced on Wednesday selling all of its shares in the German automaker company Daimler for a total of 1.15 billion... 05.05.2021, Sputnik International
2021-05-05T10:23+0000
2021-05-05T10:23+0000
2021-05-05T10:23+0000
https://cdn1.img.sputnikglobe.com/img/104714/42/1047144234_0:373:3792:2518_1920x0_80_0_0_62e624aea66b0977e7ad47d9d7135d41.jpg
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2021
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
business, newsfeed, nissan, daimler ag, car, cars
business, newsfeed, nissan, daimler ag, car, cars
Nissan Sells Daimler Shares for Over $1.3 Billion to Boost 'Business Competitiveness'
MOSCOW (Sputnik) - Japan's Nissan Motor announced on Wednesday selling all of its shares in the German automaker company Daimler for a total of 1.15 billion euros ($1.38 billion) to use the proceeds on the development of electric vehicles.
Nissan has about 16.5 million shares, equivalent to 1.54% of Daimler's issued shares, according to the statement.
"Nissan announces the sale of its entire stake in Daimler at a price of €69.85 per share (i.e. total amount of gross proceeds of approximately €1.149 billion) through a placement to institutional investors by way of an accelerated bookbuilding process (the 'sale')", the statement read.
The proceeds will be used "to further strengthen and enhance its business competitiveness, including investments to promote electrification", the Japanese company said.
Nissan's alliance partner Renault sold its Daimler shares in March. Like Nissan now, the French carmaker stressed that the sale would not affect the partnership.
