Mercedes-Benz offloads Nissan stake for $325 million, source says

The pension trust of German automaker Mercedes-Benz has sold its entire stake in Japan's Nissan Motor for 47.83 billion yen ($324.65 million), a source with direct knowledge of the matter said.

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Shares in the Japanese automaker ended the day more than 6% lower, following Mercedes-Benz's announcement that it would sell its 3.8% stake. The decline marked the stock's biggest one-day drop since early July.

The slide in Nissan shares since the news highlights investor scepticism over the company's turnaround prospects as it battles tariffs and falling sales in its key markets, the United States and China. The automaker booked a $535 million loss for the three months ended June.

The share sale comes after Nissan agreed earlier this year with its long-time partner and top shareholder Renault to amend their partnership that would allow lowering the required shareholding to 10% from 15%.