Mercedes-Benz confirmed yesterday that it has sold all of its holdings in Nissan Motor Co., Ltd. for 47.87 billion yen (approximately 2.324 billion yuan at current exchange rates).

Mercedes-Benz stated that it sold 140.1 million shares of Nissan Motor at 341.3 yen per share (approximately 16.6 yuan at current rates). The company commented that the sale was aimed at "cleaning up the investment portfolio," noting that these shares had been transferred to pension assets since 2016 and were not considered strategic investments.

According to data from research firm LSEG Refinitiv, Mercedes-Benz held a 3.77% stake in Nissan Motor as of the end of March this year. Notably, this share sale occurred after Nissan and its largest shareholder Renault modified their cooperation agreement, with the companies adjusting the arrangement to reduce Renault's required stake from 15% to 10%.

Nissan Motor declined to comment on the matter.