Nissan said in a statement on Monday that after “several months of constructive discussions”, it and Renault reached an agreement in discussions to redefine the terms of their partnership.
The public note points out that the issue still needs to go through the board of directors of the two companies.
According to the statement, the intention is to strengthen the alliance and maximize value creation, with an approach on three fronts: to reinforce the partnership with operational projects of high value creation; ensure greater strategic agility with new initiatives in which partners can also act; and a balanced governance, with changes in the shareholding of one company in the other.
On this last point, Renault should have a 15% stake in Nissan, reducing the current level of more than 40%, and this difference would be transferred to a French trust, in which the votes would be “neutralized” for the majority of decisions, but with the economic rights benefiting Renault whenever any share was sold.
Regarding the first point, one of the areas mentioned for projects is Latin America, without further details.
The agreements would still be finalized and the transaction depends on the approval of the directors of the boards of Renault and Nissan, adds the text. After the announcement, Renault’s action retreated 1.85% on the Paris Stock Exchange, close to 8 am (Brasília time).
Source: CNN Brasil
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