Nissan is taking major stake in Mitsubishi
Nissan is ready for a big-budget purchase. Carlos Ghosn, the company’s chief executive has announced their readiness to become the biggest shareholder of Mitsubishi Motors Corporation by acquiring 34% stake for £1.5 billion.
Taking into account the recent scandalous events regarding Mitsubishi's acknoledgement of cheating on economy test for 25 years, MMC’s value has dropped by 40%.
Nissan has a high demand for this issue mostly because Mitsubishi has been making minicar for Nissan since 2010. In the aftermath of the scandal, Nissan suffered losses in sales in Japan by 22 percent.
‘This is a breakthrough transaction and a win-win for both Nissan and Mitsubishi Motors.’ said Ghosn
MMC chief executive Osamu Masuko added: ‘This agreement will create long-term value needed for our two companies to progress towards the future.
‘We will achieve long term value through deepening our strategic partnership including sharing resources such as development, as well as joint procurement.’