Nissan confirmed in a statement on Monday that its ally Renault would reduce its stake to 15% against 43.4% currently, to put the two automakers on an equal footing after months of complex negotiations.
The Japanese group will also invest in Ampere, the future electricity pole of its French partner, to become a “
strategic shareholder
”, he continued, without however quantifying this commitment for the moment.
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This is a major overhaul of the marriage conditions between the two groups, which since the beginning of their union in 1999 have known good times but also serious crises of confidence, especially after the spectacular fall of the boss of their alliance. Carlos Ghosn in 2018. Renault and Nissan will each hold 15% of the capital of the other, “
with an obligation to retain, as well as an obligation to cap their holdings
“, According to a joint press release.
However, the French group will not immediately sell the rest of its Nissan shares (28.4%) because their market value is much lower than their value currently recorded in its accounts.
Also, to avoid massive depreciation, Renault will transfer this tranche to a trust based in France, where the voting rights attached to these shares will be "
neutralized
" for most decisions, it is specified in the press release.
Become a “strategic shareholder”
Renault will, however, continue to receive dividends on these securities until their actual sale, for which no specific deadline has been set.
Nissan will also invest in Ampere, the future electric pole of its French partner, to become a “
strategic shareholder
”.
The amount of this commitment has not yet been specified.
New operational projects between Renault and Nissan are also planned in Latin America, India and Europe, according to the press release.
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The agreements on these different aspects "
are being finalized
" and have yet to be validated by the respective boards of directors of the two groups.
More detailed announcements should be made on February 6, a source familiar with the matter told AFP last week.
