Nissan poised to take a controlling stake in Mitsubishi Motors

Nissan is set to take a controlling stake in Mitsubishi Motors

Nissan is poised to invest $2.2 billion to take a controlling 34 per cent stake in Mitsubishi Motors.

The companies plan to sign an agreement by May 25 in which Nissan can name four directors to Mitsubishi Motors’ board.

International media reports suggest the deal would be a lifeline for Mitsubishi Motors.

Mitsubishi and Nissan already cooperate on development and manufacturing with a partnership dating back to 2011, but that deal does not currently involve any cross-shareholding.