Renault to Book $11 Billion Hit From Changes in Accounting Treatment of Nissan Stake
Renault RNO -2.39%decrease; red down pointing triangle Group said it would book a 9.5 billion euro ($11.20 billion) non-cash loss in the first half as a result of changes in the way it accounts for its stake in Nissan.
The French carmaker on Tuesday said that the financial hit from the change has no impact on its cash nor on the calculation of its dividend and will be recognized in the income statement mostly in operating income and expenses as of June 30.
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