Daimler Transfers Its Renault, Nissan Stakes Into Pension Funds
- Shift of $2 billion in assets boosts funding level by 6%
- Move doesn’t affect carmaking cooperation with Renault-Nissan
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Daimler AG is shifting its stakes in carmaking partners Renault SA and Nissan Motor Co. into its pension fund to help plug a funding gap stemming from low interest rates.
The transfer of its 3.1 percent holdings in the French and Japanese companies will boost the German manufacturer’s pension fund assets by 1.8 billion euros ($2.0 billion), improving the funding level by about 6 percent, Stuttgart-based Daimler said Wednesday in a statement. The change has no effect on cooperation with the Renault-Nissan Alliance that includes building compact cars together.