Automakers Renault, Nissan will become equals, with equal stakes in each other
have agreed to equalize the stakes they hold in each other, both sides said Monday, ironing out a source of conflict in the Japan-French auto alliance.., potentially giving it a larger say in how the Japanese automaker is run. It will transfer shares equivalent to a 28.4% stake to a French trust so each side will hold the same 15% stake in the other, according to the companies.
Until then, the voting rights would be “neutralized” for most managerial decisions, but the economic rights, such as dividends, will continue to go to Renault, the companies said. The alliance has had its ups and downs since it began in 1999, when Renault sent one of its executives,
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Renault slashes Nissan stake as the automakers overhaul their decades-long allianceRenault has trimmed its interest in coalition ally Nissan stake as the automakers overhaul their decades-long union.
Read more »
Renault-Nissan alliance reboot will kick off with five projects - AutoblogThe reorganized alliance allows partners to focus on diverse projects with fewer distractions 'in endless trans-national politics.'
Read more »
Nissan, Renault reach agreement for Renault to lower stake to 15% -NikkeiNissan Motor Co and Renault SA have reached an agreement to lower the French automaker's stake in the Japanese carmarker to 15% from 43%, the Nikkei business daily reported on Monday.
Read more »
Nissan teases new EV concept debuting this week: Tune in and Max Out - AutoblogNissan teases a new EV concept that appears to be a physical version of the Max-Out battery-electric two-seat convertible digital concept.
Read more »
Nissan, Renault agree to sweeping overhaul of global allianceNissan Motor Co and Renault SA agreed on Monday to a sweeping restructure of their two-decade-old automaking alliance that will put them on equal footing and see the Japanese company invest in Renault's new electric vehicle business.
Read more »
Nissan, Renault Reach Deal on Alliance Shake-UpNissan Motor and French partner Renault said they reached an agreement to reorganize their more than two-decade-old alliance.
Read more »