Skip to comments.[Nissan CEO] Ghosn certain $2.2 billion deal for Mitsubishi is a bargain
Posted on 05/13/2016 7:11:19 AM PDT by Olog-hai
Nissan Chief Executive Carlos Ghosn is confident a 237 billion yen ($2.2 billion) investment in a controlling stake in scandal-embroiled Mitsubishi Motors will prove a bargain when sheer size is critical in the auto industry.
Japanese transport ministry officials raided Mitsubishi Motors Corp.s Tokyo headquarters Friday, as part of an investigation into inflated fuel-economy data for several models. [ ]
Mitsubishis shares fell 43 percent between April 19 the day before it announced the fuel economy scandal and May 11. The stock cost 565 yen ($5.20) Friday, down 1.7 percent following a surge on the deal's news.
Gaining Mitsubishi adds about 900,000 in annual vehicle sales to the Nissan-Renault alliance, which already is the fourth-largest automaker in the world with about 8.5 million in sales.
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Mitsubishi - killing Americans since 1941.
Carlos Ghosn has brought Nissan back from the brink. He has done a great job there, not bad for a Foreigner heading a Japanese company.
Interesting, in that one keiretsu is poaching a named business from another.
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