Aug. 26 at 3:32 PM
Mercedes-Benz announced Monday it sold its 3.8% stake in Nissan for €279M. The sale involved 140.1M shares at ¥341.30 each, totaling ¥47.8B (~€279M).
The shares, held by Mercedes’ pension funds, were deemed no longer strategically relevant. The sale price represented a nearly 6% discount to Monday’s closing price of ¥363, within the offered range of ¥337.5–341.
Following the announcement, Nissan shares fell more than 6%, closing at ¥340.30 on the Tokyo Stock Exchange Tuesday.
$NSANY $MBGYY