Nissan Motor Co. is in talks to take a 34% stake in Mitsubishi Motors Corp., the automakers said Thursday. The ¥237 billion stake would make Nissan the smaller automaker's largest shareholder.
The arrangement could bring clear benefits for Mitsubishi, including membership in the massive Nissan-Renault alliance. Combined unit sales of about 9.5 million would place the group on a par with behemoths Toyota Motor Corp. and Volkswagen AG.
"This transaction represents a potential win-win for both of our companies and promises to deliver significant synergies and growth opportunities," Nissan President Carlos Ghosn told a joint news conference with Mitsubishi Motors Chairman Osamu Masuko.