Mitsubishi Motors’ Mea Culpa Turned to $2.2 Billion Nissan Deal

Two days before Mitsubishi Motors Corp. went public with news it had overstated the fuel economy of its cars, Chairman Osamu Masuko visited Nissan Motor Co. President Carlos Ghosn for a mea culpa. It didn’t take long for talk to turn from an apology to a deal. Three weeks after Masuko and Ghosn’s April 18 meeting, their respective boards signed off on an agreement in which Nissan will buy 34 percent of Mitsubishi Motors for about $2.2 billion. In purchasing the stake, Nissan will serve as a backstop for an automaker facing a mileage-rigging scandal that’s threatening its existence.

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