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International Business Times

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AFP News

Renault Sells Nissan Stake As Part Of Rebalanced Alliance

Renault Nissan Japan

The partnership began in 1999, when Renault rescued Nissan from bankruptcy (Credit: AFP)

Renault said Tuesday that it was selling to Nissan part of the stake it owns in the Japanese automaker as the two companies rebalance their alliance.

The stake, equivalent to around five percent of Nissan's equity capital, is valued at 765 million euros ($825 million) at the closing price of the shares on the Tokyo stock exchange on Tuesday.

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