Renault to sell 5% Nissan stake back to the Japanese group at $1.62b loss

Renault to sell 5% Nissan stake back to the Japanese group at $1.62b loss

FILE PHOTO: The logos of car manufacturers Nissan and Renault are pictured at a dealership Kyiv, Ukraine June 25, 2020. REUTERS/Valentyn Ogirenko

French carmaker Renault will sell a 5% stake in Nissan back to the Japanese group in the first stage of a planned reduction of its holding as the two automakers rebalance their long-standing alliance, both companies said on Tuesday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter