After Renault, Nissan sells it’s Daimler stakes in Frankfurt today

After Renault, Nissan sells its Daimler stakes in Frankfurt, today.

Past month, in late March, Renault selling the shares, the Nissan Motor, a Japanese company decided to let out its 1.5% shares of the German Automobile company, Daimler.

Nissan Motor shared latest by today that they are selling 1.5% Daimler stakes through an accelerated bookbuild offer, a block trade, which was organized by Bank of America and Societe Generale, in Frankfurt.

A decade ago a French automobile company had exchanged stakes with Daimler in order to strengthen their industrial cooperation.

Today, Investors expressed the closing price to be high as around 72.41 euros per share, a bookrunner organizing the deal said.

”Cooperation is continuing, Daimler and Renault assured earlier this year, even though people close the matter had said larger initial plans never materialized and the cross-shareholdings were no longer deemed necessary,” as reported by Reuters.

Daimler shares went straight down by 4.6% in after-hours trading happened at Frankfurt.

At the price, Nissan Motor would just reap under 1.2 billion euros ( around $1.4 billion) from the deal, as reported.