Nissan shares decrease over 6 %, as Mercedes -Benz plans to get rid of a 3.8 % stake

Nissan engine The shares fell on Tuesday after Mercedes-Benz announced plans to empty 3.8 % in the Japanese automobile industry.

The Nissan shares listed in Tokyo decreased by up to 6.7 % before reducing some losses for 6 % trading.

The Mercedes -Benz’s pension fund will strip its share of $ 346 million in Nissan Motor, According to the company, a company spokesman said on Monday.

The spokesperson added that Nissan Holdings, which was transferred to retirement assets in 2016, was not strategic as framing the sale of the remaining 3.8 % stake as part of the wallet cleaning. Nissan Stake 2.7 % of the total company’s possessions, as a Diamler truck constitutes about 93 %.

Mercedes-Benz is the second largest contributor in Nissan after Renault -35.7 % Hessa-Lseg data showed.

The move puts more pressure on the stock of the Japanese auto industry that has been under pressure from the American customs tariffs, and the decline in sales and the transition to electric cars amid highly declining global competition, especially from Chinese competitors.

Late last year, the company entered short -term discussions with Honda about a possible partnership that would constitute the third largest car company in the world.But the negotiations collapsed in February.

In May, the company Declare Place to reduce 11,000 jobs and close seven plants. April CEO Evan Espinoza said in June that the company Focus in the short term It was to repair the non -car manufacturer because it is subject to a great restructuring.

In July, The tariff of American cars has been reduced to 15 % By 25 % in some comfort of Japanese auto companies including Nissan. The original tariff decreased by 25 % to 12.5 %, before adding a 2.5 % “most preferred” base tariff, with a total of 15 %.

Nissan shares have decreased more than 29 % so far this year.