(Corrects spelling of Mercedes in headline and paragraph 1.)
TOKYO (Reuters) -Mercedes-Benz’s Pension Trust will sell around $346 million worth of shares it holds in beleaguered Japanese automaker Nissan Motor, a term sheet showed.
The shares will be offered at prices ranging between 337.5 and 345 yen per share, which would comprise a discount of between 4.96% and 7.02% compared to the last closing price of 363 yen per share on Monday, the term sheet showed.
The pricing of the sale is set for before the market opens on Tuesday and settlement is expected to be on Thursday.
Japan’s third-largest automaker has been hit by U.S. tariffs, restructuring and lower sales volumes and is in the midst of a sweeping turnaround plan.
(Reporting by Anton Bridge and Scott MurdochEditing by Bernadette Baum)
Comments