Renault, Nissan Agree to Equalize Stakes in Alliance Reboot
- Renault to lower Nissan holding to 15%, work on joint projects
- Nissan to become strategic shareholder in Renault EV business
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Renault SA agreed to lower its stake in Nissan Motor Co. in moves aimed at solving longstanding frictions in their decades-long alliance and better competing in the rapidly transforming auto industry.
Renault will reduce its ownership of Nissan to 15% by placing the rest of its current 43% shareholding in a French trust, the companies announced Monday. The trust will sell those shares — at the moment worth about ¥544.1 billion ($4.18 billion) — in a coordinated and orderly process likely to play out over several years.