YOKOHAMA (dpa-AFX) - Nissan (NSANF.PK, NSANY.PK) has announced its plans to sell the company's Russian operations. The company noted that the transaction will not impact Renault Group's operating margin, free cash-flow and financial outlook.
Nissan said the adjustment, published in Japanese accounting standards and booked for the 2022/2023 fiscal year, will have a negative contribution to Renault Group's net income estimated at 331 million euros for the second half 2022, before IFRS adjustments.
On May 16, 2022, the Board of Renault Group approved agreements to sell 100% of Renault Group's shares in Renault Russia to the City of Moscow and its 67.69% stake in AVTOVAZ to NAMI.
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