Automakers Renault, Nissan to make cross-shareholdings equal at 15% ...Middle East

Business Standard - Economy

Nissan and Renault have changed their mutual cross-shareholdings equal at 15 per cent, ironing out a source of conflict in the Japan-French auto alliance. Up to now, Renault Group has held a 43.4 per cent stake in Nissan Motor Co. It will transfer shares equivalent to a 28.4 per cent stake to a French trust, so it will hold a 15 per cent stake in Nissan, just as Nissan holds 15 per cent of the French automaker, according to the companies. The disparity between the holdings was a cause of friction, especially after Nissan became far more profitable than Renault. The cross-national alliance, creator of the Leaf electric car and Infiniti luxury models, remains one of the world's top auto groups

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Last updated : 30 January 2023 clock 12:20 PM

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