• Sign in to follow this  
    Followers 0

    Rumorpile: Nissan To Buy A 30 Percent Stake Into Mitsubishi Motors - UPDATED


    • From left field: Nissan is purported to take a controlling stake in Mitsubishi Motors

    We weren't expecting this: Nissan, the automaker who discovered the manipulation of fuel economy figures at Mitsubishi Motors, is currently in the final stages of buying a controlling stake into the company.

     

    According to reports from NHK and the Nikkei Asian Review, Nissan will spend roughly 200 billion Yen (about $1.8 billion) to acquire over 30 percent interest in Mitsubishi Motors. This would make Nissan the largest shareholder in the company, surpassing Mitsubishi Heavy Industries, which currently has a 20 percent stake.

     

    This news comes after Mitsubishi announced that all of its models sold in Japan since 1991 may have inflated fuel economy numbers. Since the scandal came to light, shares in Mitsubishi Motors have dropped 43 percent. Sales of Mitsubishi vehicles in Japan have also taken a turn for the worse. Mitsubishi Motors says they have enough money to cover the scandal and will not seek help from Mitsubishi group companies.

     

    Why would Nissan want a controlling stake in Mitsubishi? A couple of reasons. One, Mitsubishi vehicles are very popular in markets such as Thailand and Indonesia. In fact, Asia makes 50 percent of the company's group operating profit. There is also talk about the two cooperating on electric vehicles.

     

    Both companies will hold board meetings tomorrow to discuss the capital tie-up and how the shares will be distributed.

     

    Source: Bloomberg, NHK, Nikkei Asian Review

     

    UPDATE: Both Mitsubishi and Nissan confirmed they are in talks this morning in Japan.

     

    "Nissan and Mitsubishi are discussing various matters including capital cooperation, but nothing has been decided," according to statements released by both companies.

     

    Reuters confirms that the board of both companies will be holding separate meetings today to discuss this issue.

     

    Source: Reuters

    0


      Report Article
    Sign in to follow this  
    Followers 0


    User Feedback


    Not sure what is left of Mitsubishi to be of value...their car platforms are dated and redundant w/ Nissan platforms.

     

    maybe their heavy trucks (is that included in this?)...though Nissan has it's own heavy truck division.   (Edit: the heavy truck company (Mitsubishi Fuso) is separate and majority owned by Daimler..so not part of this deal presumably).  

    Edited by Cubical-aka-Moltar
    0

    Share this comment


    Link to comment
    Share on other sites

    Not sure what is left of Mitsubishi to be of value...maybe their heavy trucks (is that included in this?)...though Nissan has it's own heavy truck division.  Their car platforms are dated and redundant w/ Nissan platforms.

     

    Access to markets that are currently limited for Nissan.  Platform sharing.

     

    I bet Mitsubishi pulls out of the US in the very near future to focus on Asian markets like Suzuki and Daihatsu did.

    2

    Share this comment


    Link to comment
    Share on other sites

    Not sure what is left of Mitsubishi to be of value...maybe their heavy trucks (is that included in this?)...though Nissan has it's own heavy truck division.  Their car platforms are dated and redundant w/ Nissan platforms.

     

    I think so, but I'll double check.

     

    Edit: It looks like it is jointly owned by Diamler and Mitsubishi. 

    0

    Share this comment


    Link to comment
    Share on other sites

    So Nissan busted mistubishi on their fuel issues and then buys thirty percent of them. Does that not sound fishy to anyone else, i.e. stock manipulation?

    Edited by surreal1272
    2

    Share this comment


    Link to comment
    Share on other sites

     

    Not sure what is left of Mitsubishi to be of value...maybe their heavy trucks (is that included in this?)...though Nissan has it's own heavy truck division.  Their car platforms are dated and redundant w/ Nissan platforms.

     

    Access to markets that are currently limited for Nissan.  Platform sharing.

     

    I bet Mitsubishi pulls out of the US in the very near future to focus on Asian markets like Suzuki and Daihatsu did.

     

     

     

     

    ^^^ This. The Mitsu name is all but $h! here in the U.S. with exception to the EVO lovers, but that car is done. Nissan just gained entry into a bunch of markets it has failed to penetrate even with the might of Renault/Nissan behind it. This would effectively.. if the numbers are all inclusive put Renault/Nissan in the 9-10 Million sales annual. My only question is whether Mitsu will be building cars for the revived Datsun?

    0

    Share this comment


    Link to comment
    Share on other sites

    So Nissan busted mistubishi on their fuel issues and then buys thirty percent of them. Does that not sound fishy to anyone else, i.e. stock manipulation?

     

    No. This morning at a press conference, Mitsubishi Motors chairman Osamu Masuko said a takeover was going to happen sooner or later.

    Plus, Mitsubishi already had a connection with Nissan concerning kei cars in Japan and they were in talks about extending this partnership. 

    0

    Share this comment


    Link to comment
    Share on other sites

     

    So Nissan busted mistubishi on their fuel issues and then buys thirty percent of them. Does that not sound fishy to anyone else, i.e. stock manipulation?

     

    No. This morning at a press conference, Mitsubishi Motors chairman Osamu Masuko said a takeover was going to happen sooner or later.

    Plus, Mitsubishi already had a connection with Nissan concerning kei cars in Japan and they were in talks about extending this partnership. 

     

    Whether they intended to sell or not is not my issue. I understand that completely. However, hat doesn't mean that Nissan wasn't looking to get a better deal. Letting the fuel controversy slip out prior to the buyout seems to lend some credence to it but maybe I'm just wearing my tinfoil hat a little too tight in regards to this.

    1

    Share this comment


    Link to comment
    Share on other sites

    They way it happened apparently is that Nissan wanted to either provide more input or take over some of the design burden of the new vehicles that Mitsu built for them under the previous partnership. They could not get the same FE numbers....and then everything happened...

    0

    Share this comment


    Link to comment
    Share on other sites

    So Nissan busted mistubishi on their fuel issues and then buys thirty percent of them. Does that not sound fishy to anyone else, i.e. stock manipulation?

    DUDE!

     

    That was the first thing that I thought of too! Release a story to make their stock plummet and then buy it up when it's dirt cheap.

     

     

    So Nissan busted mistubishi on their fuel issues and then buys thirty percent of them. Does that not sound fishy to anyone else, i.e. stock manipulation?

     

    No. This morning at a press conference, Mitsubishi Motors chairman Osamu Masuko said a takeover was going to happen sooner or later.

    Plus, Mitsubishi already had a connection with Nissan concerning kei cars in Japan and they were in talks about extending this partnership. 

     

    Whether they intended to sell or not is not my issue. I understand that completely. However, hat doesn't mean that Nissan wasn't looking to get a better deal. Letting the fuel controversy slip out prior to the buyout seems to lend some credence to it but maybe I'm just wearing my tinfoil hat a little too tight in regards to this.

     

    +111111111

     

    I just got fitted for a new tinfoil hat this week so I know mine is fitting perfect but I just can't seem to take it off..  :tinfoil:

    2

    Share this comment


    Link to comment
    Share on other sites


    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

    ×   Your link has been automatically embedded.   Display as a link instead

    Loading...



  • Popular Stories

  • Similar Content

    • By William Maley
      The tentative agreement between General Motors and Canadian union Unifor has a $400 million investment going to Oshawa for a new product. Unifor President Jerry Dias said at a press briefing yesterday morning that Oshawa would be the only GM plant that will build cars and trucks. Neither side is saying what that product might be.
      But Canadian newspaper The Globe and Mail has learned from sources that Oshawa will be handling the final assembly of the Chevrolet Silverado and GMC Sierra. Truck bodies from GM's Fort Wayne Assembly in Indiana will travel to Oshawa to have interiors installed and final assembly. The Detroit News reports something similar, although their source says it will only be the Silverado.
      Oshawa has a history of building pickups. For four decades, Oshawa was one of the places where GM built the Silverado and Sierra. But in 2009, GM closed the truck plant due to the recession. 
      The Globe and Mail also reports that production of the XTS has been extended at Oshawa. Analysts believed previously that XTS production would end in 2019.
      Source: The Globe and Mail, The Detroit News

      View full article
    • By William Maley
      The tentative agreement between General Motors and Canadian union Unifor has a $400 million investment going to Oshawa for a new product. Unifor President Jerry Dias said at a press briefing yesterday morning that Oshawa would be the only GM plant that will build cars and trucks. Neither side is saying what that product might be.
      But Canadian newspaper The Globe and Mail has learned from sources that Oshawa will be handling the final assembly of the Chevrolet Silverado and GMC Sierra. Truck bodies from GM's Fort Wayne Assembly in Indiana will travel to Oshawa to have interiors installed and final assembly. The Detroit News reports something similar, although their source says it will only be the Silverado.
      Oshawa has a history of building pickups. For four decades, Oshawa was one of the places where GM built the Silverado and Sierra. But in 2009, GM closed the truck plant due to the recession. 
      The Globe and Mail also reports that production of the XTS has been extended at Oshawa. Analysts believed previously that XTS production would end in 2019.
      Source: The Globe and Mail, The Detroit News
    • By William Maley
      Update: In a statement to Mashable, a McLaren spokesperson said "We can confirm McLaren is not in discussion with Apple in respect of any potential investment," So those hoping for an Apple 570S or something else, we're going to be bursting that bubble now. 
      Update 2: Tim Bradshaw, one of the reporters behind the Apple/McLaren story has gone on Twitter saying the FT stands behind its original report. 
      Apple has eyes set on acquiring the McLaren Technology Group - the folks who brought us the F1 supercar and more recently the 570S. The Financial Times reports that Apple and McLaren have been in talks for the past few months about either a full takeover or strategic investment. Why is Apple interested in McLaren? The FT says Apple is interested in McLaren's technology and knowledge of using light-weight materials such as carbon fiber and aluminum. The deal if it goes through is likely to be valued between $1.3 billion and $1.95 billion.
      For the past few years, rumors have been swirling around of Apple building their own self-driving electric vehicle. Apple brought in engineers from various automotive companies such as Diamler and Tesla, and began work on Project Titan two years ago. But the New York Times reports that Apple has hit a few snags in this project and has decided to reset the project. Dozens of employees were laid-off and parts of the project were shuttered. The report goes on to say the Apple is now focusing on building the underlying technology for an autonomous vehicle.
      Sources tell the FT that the deal might not go through because of the change in strategy.
      Apple declined to comment when asked by Roadshow. McLaren hasn't issued a comment at this time. See Update.
      Source: Financial Times (Subscription Required), Bloomberg, New York Times, Roadshow

      View full article
  • Recent Status Updates

  • Who's Online (See full list)

    There are no registered users currently online