Nissan Motor to Sell Nissan Diesel Stake
The Associated Press is reporting that Nissan Motor Co. will sell 13 percent of Nissan Diesel to
The deal will make Volvo the largest shareholder in
Nissan Chief Executive Carlos Ghosn said "We are gladly selling the shares to Volvo because Nissan Diesel and Volvo are a very strong fit." He added that the Nissan is willing to sell more shares to Volvo.
Volvo said that the deal would help the Swedish truck-maker gain a foothold in
Nissan Diesel Motor Co. will retain its name even though Volvo will become the top shareholder. The sale will be completed by March 29, Nissan Diesel said.
Nissan Motor and Volvo also said the two agreed to review an area of cooperation, together with Dongfeng Motor Co., in commercial vehicle business in