Nissan to sell entire Daimler stake for $1.4 billion

Nissan has announced the sale of its entire 1.54 percent stake in German auto giant Daimler

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.

Its industrial cooperation with Daimler remained unchanged, the company said, adding: “The two groups continue to collaborate in several areas.”

Nissan has upgraded its full-year forecast, projecting a net loss of 530 billion yen ($4.8 billion) for the fiscal year to March, smaller than its earlier estimate.

si/qan

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