Renault
Reduces Nissan Stake To 15%

According to media reports, French carmaker Renault
and Japanese carmaker Nissan have announced in a joint statement that Renault
has reduced its stake in Nissan to 15% from about 43% and Nissan’s 28.4% stake
in France. has been transferred to a trust company, by which both parties have
entered into a contract with each other. Equivalent cross shareholding
position.

Renault, Nissan, and their junior partner Mitsubishi
Motors said in the announcement that the new agreement to restructure the
alliance came into force on November 8.

“The next chapter of the alliance will be built
on a long-term partnership and create greater value for each alliance
member,” the three companies announced in the statement.

The statement indicated that Renault is under no
obligation to sell or transfer Nissan’s shares to the trust company within a
specified time frame. It also disclosed that Renault may coordinate with Nissan
for a flexible sale of vested shares, and Nissan or a third party may have the
right to the first offer.

Earlier this year, Nissan and Renault announced in
London a comprehensive restructuring of their partnership. Before that, the two
sides engaged in intense negotiations for months, finally reaching terms of
cooperation in July, driven by Nissan’s desire to protect its intellectual
property in future collaborations.

In January of that year, the two companies had already
revealed Renault’s plans to transfer 28% of its Nissan stake to a French trust
company in order to achieve a more balanced position between the two.

As part of the deal, Nissan committed to investing up
to €600 million (about $641 million) in Renault’s electric vehicle unit Ampere,
becoming a strategic investor and a seat on the board. Furthermore, Mitsubishi
Motors pledged to invest up to €200 million in Ampere. Renault plans to take
Ampere public via an initial public offering (IPO) next spring.