Renault Gains on Talks That May Lead to Paring Nissan Stake
- EV carve-out talks may be linked to long-sought rebalancing
- French carmaker’s stake in partner is worth €6.1 billion
The badge of Renault SA on the front grille of a Scenic Vision hybrid concept vehicle.
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
Renault SA’s stock surged after the carmaker confirmed talks that could lead to the French company cashing in some of its €6.1 billion ($5.9 billion) shareholding in alliance partner Nissan Motor Co.
The stock rose as much as 6.8% to €32.75, its highest intraday level in more than seven months, after Renault said it’s discussing several initiatives with Nissan. The talks include the Japanese manufacturer potentially investing in the new electric vehicle entity Renault is planning to set up.