Sharjah24 – AFP: Nissan on Wednesday announced the sale of its entire 1.54 percent stake in German auto giant Daimler for around 1.15 billion euros ($1.4 billion), following a similar move by its French partner Renault.
The Japanese automaker has been trying to become profitable again and recover from the reputational damage caused by the departure of its now-fugitive former leader Carlos Ghosn.
Nissan said the divestment will allow it to "further strengthen and enhance its business competitiveness, including investments to promote electrification".
Its industrial cooperation with Daimler remained unchanged, the company said, adding: "The two groups continue to collaborate in several areas."
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