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Investing.com-- Nissan Motor Co., Ltd. (TYO:7201) shares fell sharply on Tuesday after the company’s second-largest shareholder, Mercedes Benz Group (ETR:MBGn), said it will begin offloading its stake in the beleaguered Japanese automaker.
Nissan’s shares fell as much as 6.5% to 338.5 yen, and were the worst performers on the Nikkei 225 index, which shed 1%.
Mercedes Benz signaled that it will begin selling its roughly $346 million, or 3.8% stake in Nissan from this week. The German firm said earlier this week that the stake had been transferred to its Mercedes’ pension unit and was not of strategic importance, with the planned sale being described as cleaning out its portfolio.
Reuters reported that Mercedes had sold its stake for $324 million at 341.3 yen per share.
The sale comes as Nissan embarks on a sweeping turnaround plan under new CEO Ivan Espinosa, to slash spending, production capacity and to focus on returning to profitability.
This comes after a planned merger with Honda Motor, which stood to create the world’s second-largest automaker, largely fell apart in early-2025.
Nissan shares are trading down over 28% so far in 2025, reflecting limited investor confidence in the company’s turnaround plan. The automaker logged a hefty loss in the June quarter, with steep U.S. trade tariffs on auto imports also adding to pressure on the company.