Tokyo/Berlin (Reuters) -The Mercedes-Benz pension fund will sell its participation of 3.8%, or around $ 346 million (295.78 million euros), in Nissan Motor, a spokesman for the German car manufacturer said on Monday.

This announcement strengthens the pressure on the action of the Japanese car manufacturer, already struck by American customs duties, the restructuring in progress and the decline in sales volumes, and which has lost 24% this year.

The sale of the participation by the Mercedes-Benz pension fund testifies to the concern of investors as to the prospects of the Nissan recovery plan, which provides for the cessation of production in certain factories in Japan and abroad in order to reduce costs and restore profitability.

Mercedes’ spokesperson said Nissan’s participation, which was transferred to retirement assets in 2016, is not of strategic importance and described the sale of the remaining 3.8% participation of the automaker as a cleaning of its portfolio.

Nissan did not respond to a request for comments immediately.

Nissan sold his participation of 1.5% in Mercedes, in the Daimler AG era, at the beginning of 2021 to help him overcome his financial difficulties.

The Nissan title will be offered at prices between 337.5 and 345 yen per share (between 1.96 and 2.0 euros), which would represent a discount of 4.96% to 7.02% compared to the last closing course of 363 yen per share on Monday, according to the conditions of conditions.

The selling price is fixed before the opening of the Tokyo Stock Exchange on Tuesday and the payment should take place on Thursday.

(Written by Anton Bridge, Scott Murdoch and Miranda Murray, Etienne Breban, edited by Augustin Turpin)

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