ANI
24 Jan 2023, 12:55 GMT+10
Tokyo [Japan], January 24 (ANI): Negotiators from Japanese automaker Nissan and its French partner, Renault, are waiting for their boards of directors to approve an agreement that would restructure their capital relationship, NHK reported on Tuesday.
Nissan has been negotiating for a partnership of equals. Renault currently holds 43 per cent of Nissan's shares. The Japanese automaker's stake in Renault is only 15 per cent.
According to the Japan Broadcasting Corporation, also known as NHK, the agreement will likely include Renault reducing its Nissan stake to 15 per cent. Sources say the plan is to temporarily entrust the shares to a separate company and sell them in phases.
Under the deal, Nissan would acquire a maximum stake of 15 per cent in a new electric vehicle (EV) company that Renault is planning to establish. The exact percentage or amount of the investment is not specified.
According to NHK sources, the Nissan and Renault managers have agreed on the deal's overall framework. It would be finalised once the boards give their approval. (ANI)
Get a daily dose of Professional Autos news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.
More InformationLONDON, England: The Society of Motor Manufacturers and Traders has reported that new car registrations in the UK rose for ...
TAIPEI, Taiwan: After the end of COVID-19 disruptions in China, Taiwan's Foxconn, the world's largest contract electronics maker and major ...
NEW YORK, New York - Stocks ended sharply higher on Tuesday following mixed comments by Federal Reserve Chairman Jerome Powell.Powell ...
NEW YORK CITY, New York: The Wall Street Journal reported this week that the US Federal Trade Commission is preparing ...
VEVEY, Switzerland: In an interview with Frankfurter Allgemeine Zeitung this week, Nestle's Chief Executive Mark Schneider said the world's largest ...
WASHINGTON D.C.: Despite the efforts of the Federal Reserve Bank to cool the job market to help curb record-high inflation, ...
New Delhi [India], February 8 (ANI): The Ministry of Education on Wednesday asked the Comptroller and Auditor General of India ...
New Delhi [India], February 8 (ANI): To provide accommodation facilities to the students and residents of Himachal Pradesh visiting the ...
Giridih (Jharkhand) [India], February 8 (ANI): Half-burnt body of an 18-year-old youth was found in near Khandoli forest of Jharkhand's ...
Mumbai (Maharashtra) [India], February 8 (ANI): The Anti-Corruption Bureau arrested a sub-engineer of the civic building and factories department, while ...
New Delhi [India], February 8 (ANI): Prime Minister Narendra Modi on Wednesday hailed the historic landing of indigenous LCA (Navy) ...
New Delhi [India], February 8 (ANI): Fiji's Deputy Prime Minister Biman Prasad on Wednesday reached New Delhi for his first ...