Renault to Book $11.2 Billion Loss on Nissan Stake Amid Restructuring
TMTPOST -- Renault said Tuesday it expects to post an extraordinary loss of approximately €9.5 billion ($11.2 billion) in the first half of the year due to a shift in how it accounts for its stake in Nissan Motor.
The accounting change comes as the French automaker unwinds parts of its two-decade alliance with Nissan, gradually reducing its holdings in the Japanese company, which continues to struggle with falling sales and mounting pressure to improve liquidity.
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