Renault Group announces that it has made progress in its discussions with Nissan Motor on defining the new foundations of their partnership: agreements are being finalized for a transaction that will remain subject to the approval of the Boards of Directors.

They are considering value-creating operational projects, and new initiatives to strengthen their strategic agility, including a possible investment by Nissan in Ampere, an electric and software pure player founded by Renault.

The two automakers would retain a 15% cross-shareholding, with retention and capping obligations. They would both be free to exercise the voting rights attached to their direct 15% shareholding, with a cap of 15%.

Renault would transfer 28.4% of its Nissan shares into a French trust, where voting rights would be 'neutralized' for most decisions, but where economic rights would still accrue to it in full until the shares were sold.

The Frenchman would instruct the trustee to sell these Nissan shares if the economic conditions are reasonable for him, in an organized and orderly process, but with no obligation to sell his shares within a specific predetermined timeframe.

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