Nissan: Buying back shares

image - Nissan 

The Japanese car manufacture Nissan stated last Friday that they will buy back shares up to 400 Billion Japanese Yen that means 3.5 Billion USD or 3.2 Billion Euros of it's own shares by the end of the year. As Nissan says this buy back will not lead to any material change in the shareholding balance in Nissan's Alliance with their partnership with Renault.

Renault said that it would sell Nissan shares a part of the programme to main it's current 43.4% stake in Nissan.

"Considering that his buyback program will create value for all Nissan shareholders, including Renault, the board of directors of Renault approved participating in this transaction" - Renault

Source - Channel News Asia