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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

Renault to sell 5% stake to Nissan as carmakers rebalance alliance

Nissan Renault Ampere Carlos Ghosn UBS De Meo
Renault and Nissan logos in in front of dealerships of the companies in Saint-Nazaire, France
Renault and Nissan’s two-decade alliance had become increasingly strained. Photograph: Stéphane Mahé/Reuters

France’s Renault has said it will sell 5% of its shares in Nissan, the first step in a plan to rebalance a troublesome partnership with the Japanese carmaker.

Renault will receive up to €765m (£657m) from the sale, helping the launch of its electric vehicles unit, Ampere. However, it will book a loss of €1.5bn to reflect the sale price, which is lower than the value of the stake previously reported on its balance sheet, it said in a statement on Tuesday.

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