PARIS, (Reuters) – Japanese carmaker Nissan will buy back 5% of its own shares from its French partner Renault the companies said on Thursday.
Renault said the deal would result in a 494 million euros ($551 million) cash inflow for the company, which would mark a further step towards cutting its debts and returning to an investment grade credit rating.
($1 = 0.8970 euros)
Reporting by Sudip Kar-Gupta and Gilles Guillaume; Editing by Mark Potter
