Hyperdrive
Nissan Surges After Firm Linked to Hedge Fund Takes 2.5% Stake
- Troubled carmaker says Suntera (Cayman) bought 2.5% interest
- Suntera well known in Japan for helping to take down Toshiba
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Nissan Motor Co. shares jumped the most in 15 years after an activist investor took a 2.5% stake in the embattled Japanese automaker.
Suntera (Cayman) Ltd., a trustee of ECM Master Fund, was identified as the buyer of the stake in a filing by Nissan. ECM Master Fund was cited in past regulatory filings as being managed by Effissimo Capital Management Pte, a Singapore-based hedge fund that buys into distressed companies.