Japan: Nissan shares tumble 6% as Mercedes-Benz exits $346m stake

Abiola Olawale
Writer

Ad

OPEC Rejects Media Reports of Major Output Hike Ahead of G8 Meet

OPEC has slammed the brake on speculation, flatly rejecting media reports that the G8 is preparing to hike crude oil production by half a million barrels per day. In a statement from Vienna on Tuesday, the OPEC Secretariat called the claims “wholly inaccurate and misleading,” stressing that discussions among ministers for the upcoming meeting haven’t…

Ranked: Countries Losing the Most (and Least) from Trump’s Tariffs

Trump’s tariffs are hitting all of America’s major trading partners. But in U.S. trade, what matters isn’t just the tariffs a country faces—it’s how they stack up against competitors. This visualization, made with the Hinrich Foundation, shows which countries are losing the most, and the least, from Trump’s tariffs. The data seen here is sourced from…

Emergency in Rivers: Romancing impunity?, By Ebun Olu-Adegboruwa 

By Ebun-Olu Adegboruwa, SAN “I urge every Nigerian home and abroad to try and live within the confines of the law of the land and the Constitution of the Federal Republic of Nigeria. If we are able to do just that, we will be sure of ensuring that peace and unity reign in the country.…

Ad

By Obinna Uballa

Nissan Motor shares fell as much as 6.7% in Tokyo trading on Monday before trimming losses to close 6% lower, after Mercedes-Benz’s pension trust confirmed plans to sell its remaining stake in the Japanese automaker.

The divestment, worth about $346 million, will likely see Mercedes offload its 3.8% holding, which it described as “not strategically significant.”

The stake, moved into pension assets in 2016, represents just 2.7% of the trust’s portfolio, dominated by Daimler Truck at nearly 93%, CNBC reported.

Mercedes-Benz is Nissan’s second-largest shareholder after Renault, which holds 35.7%, according to LSEG data, the report said.

The report noted that the sell-off adds to pressure on Nissan’s stock, already weighed down by U.S. tariffs, weak sales, and the costly transition to electric vehicles amid stiff competition, particularly from Chinese automakers.

The company, it was gathered, has struggled to regain momentum after scrapping talks with Honda in February that could have created the world’s third-largest carmaker.

In May, Nissan unveiled plans to cut 11,000 jobs and shut seven plants, while CEO Ivan Espinosa said in June the priority was “fixing the struggling automaker” through a sweeping restructuring program.

Although Washington eased U.S. auto tariffs in July l, cutting the original 25% duty to an effective 15%, the relief has done little to lift investor confidence, the report said.

Nissan shares have now lost over 29% year-to-date, deepening concerns about the automaker’s turnaround prospects.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp