Mercedes Sells Stake in Nissan for €279.64 Million

The Mercedes-Benz pension fund has sold its stake in Nissan for €279.64 million, according to a source with direct knowledge of the matter. Shares of the Japanese automaker maintained their losses, around 6%, following the Mercedes announcement on August 25.

The drop in Nissan's stock price underscores investor skepticism about the company's recovery prospects. Nissan is starting talks with the union about job cuts at its European office.

The automaker employs nearly 19,000 people across Europe, Africa, the Middle East, India and Oceania, with nearly 60% based in Europe. Nissan passenger car registrations fell by 5.2% in the first half of the year in the EU and UK countries.