Mitsubishi buys back stake from Nissan
Buy back was initiated to improve capital efficiency, expand shareholder returns
MANILA: Mitsubishi Motors Corporation has bought back a portion of its stake from Nissan Motor Company Limited.
KEY TAKEAWAYS
How much share dis Mitsubishi buy back from Nissan?
Mitsubishi has bought back a total of 10.02 percent stake from Nissan.How much of Mitsubishi does Nissan own now?
Per Mitsubishi, Nissan now owns 34.07 percent of the company.The Alliance members decided to move around stocks with the former acquiring a total of 10.02 percent (149,028,300 shares) of the total number of issued shares from the latter.
As a result, Nissan’s stake in Mitsubishi now stands at 34.07 percent (506,620,577 shares).
“In light of the recent trend to reduce cross-shareholdings, Mitsubishi Motors has decided to repurchase its own shares from Nissan Motor after considering ways to improve capital efficiency and expand shareholder returns,” Mitsubishi said in a press release.
“Mitsubishi Motors and Nissan will continue their collaborative efforts to drive innovation and deliver exceptional value to their stakeholders. Together, the Alliance companies are actively engaged in high-value creation projects that respond to evolving industry trends,” it added.
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