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26.10.2016 | 17:00
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Nissan has acquired a controlling stake in Mitsubishi Motors

One Japanese automaker has bought more than one third of the shares of another automaker.

Automobile concern Nissan Motor has acquired 34% of shares of the corporation Mitsubishi Motors. The deal's value is estimated at 237 billion yen (2.28 billion dollars).

The Board of Directors will be headed by the president of Nissan, Carlos Ghosn. Thus, being the Head of Board of Directors of the French automaker Renault, he will take three leadership positions.

Nissan Motor announced plans to acquire a controlling stake in Mitsubishi Motors last May after the fuel scandal that affected compact models, which Mitsubishi Motors had been developing for Nissan.

References in the article: m&a, nissan, mitsubishi
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