Nissan To Sell Russian Operations - Quick Facts

Nissan (NSANF.PK,NSANY.PK) has announced its plans to sell the company's Russian operations. The company noted that the transaction will not impact Renault Group's operating margin, free cash-flow and financial outlook.

Nissan said the adjustment, published in Japanese accounting standards and booked for the 2022/2023 fiscal year, will have a negative contribution to Renault Group's net income estimated at 331 million euros for the second half 2022, before IFRS adjustments.

On May 16, 2022, the Board of Renault Group approved agreements to sell 100% of Renault Group's shares in Renault Russia to the City of Moscow and its 67.69% stake in AVTOVAZ to NAMI.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
A group of 23 U.S. states attorneys general have asked South Korean car manufacturers Hyundai Motor and Kia Corp. to take action more quickly to solve problems with millions of U.S. vehicles facing theft. The issue is related to the companies' failure to equip vehicles with anti-theft immobilizers, which has been a standard equipment on vehicles sold by other major manufacture El Monte, California-based Mutual Trading Co., Inc. is recalling certain Kagome Sauces citing undeclared soy, a known allergen, the U.S. Food and Drug Administration said. The recall involves 60 fl oz of Kagome Worcester Sauce, 10 fl oz of Kagome Chuno sauce, and 8g of Kagome Take out Tonkatsu Sauce. With a view to celebrate college basketball season, Domino's Pizza Inc. is offering customers 50% off all menu-priced pizzas ordered online today through March 26. The weeklong 50% off online deal is available on menu-priced pizzas ordered through Domino's online ordering channels.
Follow RTT