Nissan sells $400m stake in India car plant to partner Renault
RYOSUKE HANADA and SHUHEI OCHIAI
TOKYO -- Nissan Motor completed the sale of its 51% share in an Indian joint venture and automobile plant to alliance partner Renault Group for 35.3 billion rupees ($404 million) as part of the Japanese carmaker's restructuring, the company said Friday.
The deal to sell its stake in the Renault Nissan Automotive India Private Ltd. (RNAIPL) venture with French automaker Renault was announced by Nissan in March and slated for completion in the first half of this fiscal year. Both common and preferred stock were sold.
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