Nissan sold its 1.54 per cent stake in Daimler

logo: Nissan sold its 1.54 per cent stake in Daimler © Bilal Ahmed Firfiray Nissan sold its 1.54 per cent stake in Daimler

-         Accounted for 1.149 billion Euros

-         Will focus on EV development

After its partner from The Alliance Renault – who sold its part of shares in Daimler in March – now it was Nissan who announced the sale of its entire stock in the German carmaker. Nissan sold its 1.54 per cent stake in Daimler AG that was equivalent to 16,448,378 shares for a price of 69.85 Euros per share, grossing total proceeds of approximately 1.149 billion Euros.

For the uninitiated, in April 2011, Renault-Nissan Alliance and Daimler AG announced broad strategic cooperation that enabled both groups to ‘benefit from a range of concrete projects as well as sharing of best practices’. The two groups announced an equity exchange that gave the Renault-Nissan Alliance a 3.1 per cent stake in Daimler, and Daimler a 3.1 per cent in Renault and a 3.1 per cent stake in Nissan. This collaboration saw many rebadged vehicles rolling off both the carmaker’s line-up notably in the commercial segment. Even the Mercedes-Benz X-Class was a rebadged Nissan Navara for the American and European market.

According to the statement released by Nissan, the proceeds from the sales will allow the Japanese carmaker to focus on investing in electrification. However, the industrial partnership between Nissan and Daimler will remain unchanged and will not be impacted by the sale as the two groups promise to continue to collaborate in several areas.

For more news,reviews,videos and information about cars, visit CarWale.com.

Check On-Road Prices | Find New Cars | Upcoming Cars | Compare Cars | Dealer Locator

Nissan sold its 1.54 per cent stake in Daimler