Renault is once again loading up its Nissan stock

New power distribution inside l’Alliance Renault-Nissan-Mitsubishi it was not late to arrive. According to the agreement made by its members at the beginning of the year in order to relaunch their partnership on new groundsthe two main manufacturers that make it have modified their cross shares.

>> READ ALSO: Renault will sell to Nissan 5% of the shares owned out of 28.4% of the capital owned by the French manufacturer.

After he was ready to give up part of his shares Nissana French car manufacturer Renault Group announces a new sales transaction representing approx 7 % you capital of his Japanese counterpart. Or 280,690,000 shares.

After informing Nissan of its intention, the Japanese company decided to exercise its right of first offer and 100 recovery 242 900 actions, parallel to environment 2,5 % is capital, which will later be cancelled. The balance can be sold by Renault for the next 180 days either to Nissan or to third parties.

The sale of Nissan shares contributes to the reduction of Renault Group’s debt

The French manufacturer notes in a press release that the new stocks for sale are participating « is part of 24,63 % of Nissan capital held in French loyalty (at 28.4% previously transferred, editor’s note) under the new Alliance agreement between Renault Group and Nissan ».

It is further stated that the operation must return to 362 millions of euros, based on the last stock price on March 27. What improve the financial situation of the Renault Group by participating more especially in reducing his debts.