Nissan Selling All Its Shares In Daimler For $1.2 Billion

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Nissan Selling All Its Shares In Daimler For $1.2 Billion

The Japanese automaker follows Renault’s lead in pulling out of Daimler.

Nissan is reportedly selling all of its 1.5 percent stake on Daimler, according to Automotive News. This follows a similar move done by the Japanese automaker’s Alliance partner Renault, which has sold its takes to the German company in March.

To recall, Nissan and Renault exchanged stakes with Daimler ten years ago to strengthen industrial partnerships, giving birth to rebadged vehicles within the automakers’ lineups, especially within the commercial vehicle segment and most notably, the Mercedes X-Class, which was a midsize luxury pickup based on the Navara, the global cousin of North America’s Nissan Frontier.

The report stated that the move to sell shares won’t affect the cooperation between the companies. It’s important to note, though, that people close to the matter said that there are larger initial plans that didn’t push through so cross-shareholdings were no longer needed. These huge plans were never discussed, however. For the full story, check out this article from Motor 1.

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