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Nissan takes 34% stake in Mitsubishi

Posted online May 12, 2016 | 11:43 am

Nissan Motor Co. is purchasing a 34 percent stake in scandal-ridden Mitsubishi Motors Corp.

Nissan CEO Carlos Ghosn said the opportunity is "a win-win" deal aimed at repeating the success of his Nissan-Renault alliance.

The company plans to spend $2.2 billion to become Mitsubishi's top investor.

Mitsubishi recently has been locked in a scandal over cheating on mileage tests.

Read more from The Associated Press.

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