PARIS: French car maker Renault said in a statement it plans to sell about 2.5% of Nissan’s shares to the Japanese care maker in a deal that could result in a cash inflow of up to 362 million euros ($391.76 million).

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The shares to be sold are part of the 24.63% of Nissan’s capital held by a French trust and the sale will be implemented as part of share buyback program announced by Nissan, Renault said.