Deals
Renault and Nissan Set Two-Year Target to Boost Alliance
- Solution would be found before Ghosn steps down from role
- Holding company one option among choices being considered
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Renault SA and Nissan Motor Co. have given themselves two years to decide on a possible merger between the two automakers or find an alternative mechanism to enhance their partnership, people familiar with the matter said.
A solution to cement ties would be found before Carlos Ghosn, the chairman of both the automakers, is due to step down as the chief executive officer of Renault in 2022, according to the people, who asked not to be named because the talks are private. Ghosn, currently serving a four-year CEO term at Renault, had previously said he may step down before his tenure ends. Renault shares closed 1.3 percent higher in Paris, after rising as much as 3.1 percent. Nissan added 0.3 percent as of 9:25 a.m. in Tokyo.