Why Renault risks losing control of Nissan
March 1999 is very far away! Louis Schweitzer, then CEO of Renault, sealed the takeover of Nissan by the French. 23 years later, Renault is a lot less extravagant. In fact, Nissan is urging its partner to reduce its stake in the Japanese automaker and reorganize their alliance, he suggests Wall Street Journal. The manufacturer with the rhombus could thus reduce its share in Nissan’s capital and thus call into question the supremacy of the Tricolor group. A first. The Boulogne-Billancourt firm could fall to 15% from the current 43.4%, the daily said on Sunday. The Echoes. So Renault would have the same stake in the Japanese that it holds in the diamond company. Humility or humiliation? The negotiations between Renault and Nissan, which have been going on for months, “have accelerated since the end of August” and are expected to intensify further until November, emphasizes AFP for its part.
Several issues are still being discussed. The decline in Renault shares is said to be gradual. And the voting rights issue is still not resolved. Because Nissan’s 15% stake in Renault is… non-voting! A provision that has always rebelled in the hearts of those responsible at Nissan. To The EchoesRenault, in which the French state holds 15 percent of the capital and 22 percent of the voting rights, could recover “up to 4 billion euros” from the sale of its Nissan shares. Talks within the alliance are taking place this Monday, October 10, in Yokohama, Nissan’s headquarters. “In the event of an agreement, the transaction could be announced as early as November,” he said on Friday Wall Street Journal. Renault has announced that it will hold an investor conference on November 8th.
Nissan will enter “amps”.
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