on RENAULT (EPA:RNO)
Renault sells 195,473,600 Nissan shares for 494 million euros
On September 27, 2024, Renault Group sold 195,473,600 Nissan shares, representing approximately 5% of the latter's capital, to Nissan for €494 million. This transaction is part of a share buyback program announced by Nissan on September 26, 2024.
The sale generates a positive cash flow that strengthens Renault's financial position and accelerates its debt reduction. This transaction also supports Renault's objective of regaining an investment grade financial rating.
By cancelling the repurchased shares, Nissan, as of October 3, 2024, is carrying out an operation with an accretive effect for its shareholders. However, Renault will record a capital loss on disposal of approximately €1,100 million in its consolidated accounts, impacting net income but not operating income.
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