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Renault Sells Its Entire 17.88% Stake in Nissan Diesel


March 2005
 Filed under: RENAULT CORPORATE Car News | RENAULT CORPORATE Headlines
March 8, 2005 -- Renault announces that it has sold all of its 17.88% stake (43.6 millions shares) in Nissan Diesel Motor Co., Ltd.

Renault originally acquired Nissan Diesel shares in March 1999 as part of the global alliance with the Nissan Group and has supported Nissan Diesel during its restructuring. Given the successful revitalization and the fact that Nissan Diesel has always been a nonstrategic investment for Renault, Renault has decided to divest its shares.
The sale took place this morning with a single block sold to J.P. Morgan Securities, Ltd. who, in turn, will sell it in the market.

Nissan Diesel, the fourth-ranked heavy truck maker in Japan, posted revenues of 453 billion Yen (3.4 billion euro) and operating income of 28.2 billion Yen (212.7 million euro), equivalent to 6.2 % of revenues, in the fiscal year 2003-2004. Truck sales amounted to 39,353 vehicles during the same period, 42% sold outside Japan, mainly in Asia and the United States.

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