Nissan Motor Corporation ¥237.362 billion acquisition of 34% stake in Mitsubishi Motors Corporation

Overview:

• Nissan Motor and Mitsubishi Motors Corporation have formed a strategic alliance with Nissan also acquiring a 34% stake in Mitsubishi.
• The deal saw Nissan pay ¥468.52 per share for the stake.
• The deal came amount due to the scandal that enveloped Mitsubishi related to reports around fuel consumption data.
• Part of the alliance will see the two companies share hybrid and autonomous-driving technology.
• According to Bloomberg the combination of the two and Renault creates the world's fourth largest automotive group.

Sam Duke - Editor