This sale outcomes from the train by Nissan of its proper of first provide to amass 99,132,100 Nissan shares following a discover from Renault Group expressing its intention to promote 280,690,000 Nissan shares (representing as much as 7% of Nissan capital)
This sale outcomes from the train by Nissan of its proper of first provide to amass 99,132,100 Nissan shares following a discover from Renault Group expressing its intention to promote 280,690,000 Nissan shares (representing as much as 7% of Nissan capital). Pursuant to the New Alliance Settlement, Renault Group has the choice to promote the rest of the Nissan shares that haven’t been purchased again by Nissan, representing 181,557,900 Nissan shares, throughout a 180-day interval to Nissan or to third-parties.
This sale was applied as a part of the share buyback program introduced by Nissan on March 27, 2024 and applied on March 28, 2024. On account of Nissan’s choice to cancel all of the purchased again shares, the transaction shall be accretive for Nissan’s shareholders (see desk under for extra particulars). This cancellation shall be applied on April 3, 2024.
As a consequence of the sale of 99,132,100 Nissan shares, the accounting impacts would be the following:
- On Renault Group consolidated monetary statements: a capital loss on disposal of round €440 million, which is able to impression the online revenue (this capital loss, booked in “different working revenue and bills”, won’t impression the Group’s working revenue).
- On Renault S.A. statutory statements: a capital achieve on disposal of round €50 million.
Evolution of Nissan capital held by Renault Group
In accordance with the New Alliance Settlement, Renault Group has no obligation to eliminate the 1.19% in extra of the 15%, and Nissan will proceed to carry a 15% stake in Renault Group. Nevertheless, the voting rights of Renault Group and Nissan will proceed to be capped at 15%.
SOURCE: Renault Group
