Renault Group sold to Nissan 195 473 600 Nissan shares for €494 million
27 Settembre 2024 - 7:30AM
UK Regulatory
Renault Group sold to Nissan 195 473 600 Nissan shares for €494
million
Press Release
September 27, 2024 |
| |
| |
Renault Group sold to Nissan 195
473 600 Nissan shares
for €494 million
Boulogne-Billancourt, September 27, 2024
After two sales of Nissan shares on December 13,
2023, and on March 28, 2024, Renault Group has completed a
third transaction on September 27, 2024 and sold to Nissan 195 473
600 Nissan shares, representing approximately 5.0%
of Nissan’s capital.
It results in a cash inflow of €494
million, which further improves the Automotive net cash financial
position and allows faster deleveraging of the Group. It also
supports the Group’s target to return to an investment grade
rating.
This sale was implemented as part of the share
buyback program announced by Nissan on September 26, 2024 and
executed on September 27, 2024. As a result of Nissan’s
decision to cancel all the bought back shares, the
transaction will be accretive for Nissan’s shareholders (see table
below for more details). This cancellation will be implemented on
October 3, 2024.
As a consequence of the sale of 195 473 600
Nissan shares, the accounting impacts will be the following:
- On Renault Group
consolidated financial statements, a capital loss on disposal of
around €1,100 million, which will impact the net income (this
capital loss, booked in "other operating income and expenses", will
not impact the Group's operating income). The impact of this
capital loss will have no impact on the dividend paid in 2025 on
2024 results as it will be excluded from the net income used to
compute the payout ratio;
- On Renault S.A.
statutory statements, a capital loss on disposal of around €120
million;
- Tax impact will be
non-significant.
Evolution of Nissan capital held by Renault
Group
|
Situation as of November 8, 2023 |
|
in % of capital |
|
Total number of shares forming the capital of Nissan |
4,220,715,112 |
|
| Total number of
shares held by Renault Group |
1,831,837,027 |
43.40% |
| - Directly-held
shares |
633,107,309 |
15.00% |
|
- Shares held in the French Trust |
1,198,729,718 |
28.40% |
| |
|
|
|
Situation as of December 31, 2023 (after
1st
sale) |
|
in % of capital |
|
Total number of shares forming the capital of Nissan |
4,009,715,112 |
|
| Total number of
shares held by Renault Group |
1,620,837,027 |
40.42% |
| - Directly-held
shares |
633,107,309 |
15.79% |
|
- Shares held in the French Trust |
987,729,718 |
24.63% |
| |
|
|
|
Situation as of June 30, 2024 (after
2nd
sale) |
|
in % of capital |
|
Total number of shares forming the capital of Nissan |
3,909,472,212 |
|
| Total number of
shares held by Renault Group |
1,521,704,927 |
38.92% |
| - Directly-held
shares |
633,107,309 |
16.19% |
|
- Shares held in the French Trust |
888,597,618 |
22.73% |
| |
|
|
|
Transaction of September 27, 2024
(3rd
sale) |
|
in % of capital |
|
Number of Nissan shares sold by Renault Group to Nissan |
195,473,600 |
5.00% |
| |
|
|
|
Situation after Nissan shares cancellation |
|
in % of capital |
|
Total number of shares forming the capital of Nissan |
3,713,998,612 |
|
| Total number of
shares held by Renault Group |
1,326,231,327 |
35.71% |
| - Directly-held
shares |
633,107,309 |
17.05% |
|
- Shares held in the French Trust |
693,124,018 |
18.66% |
In accordance with the New Alliance Agreement,
Renault Group has no obligation to dispose of the 2.05% in excess
of the 15%, and Nissan will continue to hold a 15% stake in Renault
Group. However, the voting rights of Renault Group and Nissan will
continue to be capped at 15%.
About Renault Group
Renault Group is at the forefront of a mobility
that is reinventing itself. Strengthened by its alliance with
Nissan and Mitsubishi Motors, and its unique expertise in
electrification, Renault Group comprises 4 complementary brands -
Renault, Dacia, Alpine and Mobilize - offering sustainable and
innovative mobility solutions to its customers. Established in more
than 130 countries, the Group has sold more than 2.235 million
vehicles in 2023. It employs nearly 106,000 people who embody its
Purpose every day, so that mobility brings people closer.
Ready to pursue challenges both on the road and in competition,
Renault Group is committed to an ambitious transformation that will
generate value. This is centred on the development of new
technologies and services, and a new range of even more
competitive, balanced, and electrified vehicles. In line with
environmental challenges, the Group’s ambition is to achieve carbon
neutrality in Europe by 2040.
https://www.renaultgroup.com/en/
RENAULT
GROUP INVESTOR
RELATIONS |
|
Philippine de
Schonen
+33 6 13 45 68 39
philippine.de-schonen@renault.com |
|
|
RENAULT
GROUP
PRESS
RELATIONS
|
|
Valérie Gillot
+33 6 83 92 92 96
valerie.gillot@renault.com |
Rie Yamane
+33 6 03 16 35 20
rie.yamane@renault.com |
|
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Shares
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