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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Renault SA | EU:RNO | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.55 | 1.15% | 48.55 | 48.30 | 48.80 | 49.07 | 47.95 | 48.37 | 730,066 | 16:40:00 |
From Oct 2023 to Apr 2024
By Adria Calatayud
Renault plans to sell a 5% stake in Nissan Motor back to the Japanese carmaker for up to 765 million euros ($823.6 million).
The French company said Tuesday that the sale of the Nissan shares could result in a capital loss of up to EUR1.5 billion which would hit net profit in its own accounts. This is the maximum amount and could be adjusted at year-end, Renault said.
Renault's estimates for the value of the sale and its expected impact assume 211 million Nissan shares are sold at a share price of 568.5 Japanese yen ($3.89),it said.
Renault said the 5% stake in Nissan it is selling back to its Japanese partner is part of a 28.4% stake it transferred to a French trust last month. The sale will be implemented as part of a Nissan share buyback, Renault said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
December 12, 2023 03:12 ET (08:12 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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