Nissan to Buy Back $824 Mln Stake From Renault

Renault plans to sell a 5% stake in Nissan Motor back to the Japanese carmaker for up to 765 million euros ($823.6 million).

The French company said Tuesday that the sale of the Nissan shares could result in a capital loss of up to EUR1.5 billion which would hit net profit in its own accounts. This is the maximum amount and could be adjusted at year-end, Renault said.