Nissan Motor Co., Ltd. (“Nissan”) announces the sale of its entire stake in Daimler AG (“Daimler”) (i.e. 16,448,378 shares, equivalent to 1.54% of Daimler’s issued shares (the “Shares”)) at a price of €69.85 per Share (i.e. total amount of gross proceeds of approximately €1.149 billion) through a placement to institutional investors by way of an accelerated bookbuilding process (the “Sale”).
The proceeds from the Sale will allow Nissan to further strengthen and enhance its business competitiveness, including investments to promote electrification.
The industrial partnership between Nissan and Daimler remains unchanged and is not impacted by the Sale1. The two groups continue to collaborate in several areas.
Daimler’s shares are listed on the regulated markets of Stuttgart and Frankfurt (ISIN code: DE0007100000).
1 Except that to enable Nissan to proceed with this financial transaction, Daimler and Nissan have mutually agreed to reciprocally waive certain preemptive rights regarding Daimler’s shares that Nissan had, and vice versa, which were agreed upon in connection with the formation of their strategic partnership in 2010.
SOURCE: Nissan
