Nissan To Buy Controlling Share in Mitsubishi Motors

By Jeff Cobb Today Mitsubishi and Nissan agreed to a 237 billion yen ($2.2 million) deal intended to help Mitsubishi out of a current scandal and beyond to revitalization.
The agreement settled today is subject to the signing of a definitive Alliance Agreement May 25. Assuming this goes through, Nissan’s 34-percent stake under Japanese law will see it in control ahead of existing stakeholders.
“MMC and Nissan expect Mitsubishi Heavy Industries, Mitsubishi Corporation and The Bank of Tokyo – Mitsubishi UFJ to maintain a significant collective ownership stake in Mitsubishi Motors, and to support the strategic alliance,” said the company today in a statement.

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