Nissan sells 10% of its car business for $1

Nissan says it expects to lose more than 100 billion yen ($AU1.1 billion) by selling its Russian division – which has not built a single car since March, due to the conflict in Ukraine – to a government-owned institute for one euro. Nissan said it expects it will incur an “extraordinary loss of approximately 100 billion yen” – about $1.1 billion in Australian currency – as a result of the sale.

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