Deals
Ghosn Eyes Salvage Task With $2.2 Billion Mitsubishi Stake
- Scandal-hit carmaker poses test for Nissan’s turnaround CEO
- Mitsubishi stake is ‘bargain deal’ for Nissan, analyst says
Nissan to Take a 34% Stake in Mitsubishi Motors
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Carlos Ghosn, the man who helped pull Nissan Motor Co. back from the brink 16 years ago, is taking on a new salvage job: Mitsubishi Motors Corp.
Nissan agreed to buy a 34 percent stake in Mitsubishi Motors for about 237.4 billion yen ($2.2 billion), the automakers said Thursday. The capital infusion could prove a crucial lifeline to Mitsubishi Motors, whose market value had fallen more than 40 percent after saying it overstated the fuel economy of its minicars and had been improperly testing Japan models since 1991.