French company to receive up to receive up to £657m, helping push electric vehicles unit Ampere
France’s Renault has said it will sell 5% of its shares in Nissan, the first step in a plan to rebalance a troublesome partnership with the Japanese carmaker.
Renault will receive up to €765m (£657m) from the sale, helping the launch of its electric vehicles unit, Ampere. However, it will book a loss of €1.5bn to reflect the sale price, which is lower than the value of the stake previously reported on its balance sheet, it said in a statement on Tuesday.
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