After months of negotiations, Nissan and Renault agreed on a cross-shareholding in each case of the same amount of 15 percent. As part of the deal, Renault will reduce its stake in Nissan from around 43 percent to 15 percent and transfer its 28 percent stake in the Japanese automaker to a French trustee, Renault announced on Monday. Nissan announced that it would take a stake in Renault’s electric car subsidiary.
The agreement also provides for Renault to sell its Nissan shares through the trustee in a coordinated process when it makes economic sense. The group will not be obliged to do this in a specific period. The agreement is subject to the approval of the Board of Directors.
Nissan wants to invest in Renault subsidiary Ampere
Meanwhile, both companies and their junior partner Mitsubishi plan to advance their collaboration on specific projects in India, Latin America and Europe. Renault boss Luca de Meo (55) is rebuilding the group and wants that Split business into five distinct parts
. Renault wants to share half of the production of the combustion engines with the Chinese group Geely share
, which already owns the Volvo brand. According to the information, Nissan also wants to invest in Renault’s new electric car and software division Ampere, which is to go public.
Renault and Nissan had been negotiating intensively for months about how they would shape their cooperation in the future. Since the two automakers announced in early October that they were in talks to restructure their alliance, the Renault shares
up nearly 25 percent during the Title by Nissan
3 percent won.
Renault and Nissan have been working together in their alliance for two decades. In recent years, however, there has been a dispute between the partners: the alliance was on the brink, especially after the scandal surrounding ex-Renault and Nissan boss Carlos Ghosn (68). The sale of shares that has now been agreed would eliminate an imbalance that has been bothering the Japanese for a long time.