Nissan follows Renault in selling Daimler stake for 1.15b euros

Frankfurt

NISSAN Motor Co sold its entire stake in Daimler AG for 1.15 billion euros (S$1.8 billion), joining its partner Renault SA in generating funds for turnaround efforts.

Nissan sold about 16.4 million shares at 69.85 euros each, according to a statement on its website on Wednesday. Renault shed its Daimler stake in March, bringing in 1.14 billion euros. Daimler shares closed at 72.41 euros on Tuesday.