Overview

• Mercedes-Benz’s pension trust is divesting a roughly $346 million holding in Nissan that it characterizes as non-strategic and part of a portfolio cleanup.
• A term sheet set the offer range at a 5%–7% discount to Monday’s 363 yen close, with pricing before the Tokyo market opens and settlement expected Thursday.
• Nissan’s Tokyo-listed shares fell as much as 6.7% after the announcement and were last down about 6%.
• Renault remains the largest shareholder with a 35.7% stake, while Mercedes-Benz had been the second-largest holder, according to LSEG data.
• The sale comes during Nissan’s restructuring involving 11,000 job cuts and seven plant closures, as the company faces weaker sales and U.S. auto tariffs that were reduced to 15% in July.