Renault stake in Nissan to be reduced to 15%

The current share of French Renault Group in Japanese manufacturer Nissan will be reduced to 15 percent. According to the news of Japanese State Television based on market sources regarding the negotiations, Renault's share level is planned to be reduced to 15 percent. Renault has the largest share in Nissan with 43 percent, while Nissan has a 15 percent share in Renault. It is known that Nissan has been uncomfortable with the current share level difference for a long time. The two companies are negotiating to mutually equalize their share levels. It was reported that the shares will be temporarily transferred to a separate company and sold in stages. On the other hand, it was reported that Nissan will be able to take a maximum of 15 percent of the shares in the new electric vehicle (EV) company that the French company plans to establish within its own organization. It is stated that the executives of the French and Japanese companies have reached an agreement in the negotiations in question and the approval of the boards of directors is awaited. Renault Group CEO Luca de Meo is expected to meet with Nissan CEO Makoto Ucida this week to finalize the negotiations. Renault-Nissan formed one of the world's largest automobile groups in 1999 through a French-Japanese partnership. Renault had invested approximately $4 billion in Nissan. With its "seen as a savior" move for the Japanese company on the verge of bankruptcy, the French manufacturer became Nissan's largest shareholder. Japanese Mitsubishi also joined the alliance in 2016. French executive de Meo stated that they wanted to redefine the partnership, saying, "This is not a 'one side loses, the other side wins' situation." Former Nissan CEO Saikawa said that a solution should be found in the "unequal automobile alliance between the Japanese and French companies by reducing Renault's shares in Nissan."