Renault capital hit from partial Nissan stake sale lower than initial estimate

PARIS (Reuters) – The capital loss resulting from Renault’s disposal of a first chunk of its stake in Nissan will amount to around 1 billion euros ($1.08 billion) after the transaction was executed via a share buyback, the French company said on Wednesday.

The figure is significantly lower than the “up to 1.5 billion euro” estimate given on Tuesday. Renault said the lower impact was due to Nissan cancelling all the acquired shares.

The capital loss will be excluded from the net income calculation base for the dividend payout, Renault said.

($1 = 0.9276 euros)

(Reporting by Piotr Lipinski, editing by Tassilo Hummel)