Renault is taking a €9.5bn loss on its stake in Nissan following a change in the way the French carmaker accounts for the holding in its struggling Japanese partner.
Renault has been restructuring its 26-year alliance with Nissan and is gradually reducing its holding in the Japanese group, which was once as high as 43 per cent, to 10 per cent.
That process has been complicated by Nissan’s sinking share price, which has fallen by almost 40 per cent in the past year. Renault currently holds 36 per cent in Nissan, including an 18.7 per cent stake held in a French trust it wants to offload.
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